As Greg said, you should be able to get an extra $50 a month or more for having the garage which would pay for the repairs after a while.

I wasn't really planning on using a private/hard money lender, since I was only going to make cash purchases to the point where I would still have 6+ living expenses and then a little bit extra for unexpected costs. 

Some months we made a few extra bucks, and some months we lost a few.

Especially if you could get that tiny bit extra out of the garage in the back and bring your monthly cash flow closer to $200 a door. 

The reality of the deal was if we had partnered 50/50 on this we would should have both made around $90k, the project will take 5 months and maybe a couple of extra to sell.

His company wanted around $1,950 to set up a Wyoming LLC with our NC LLC parked inside of it for extra protection.

Hopefully questions like that and extra screening will mitigate some of this.For context, my wife and I just moved into our first househack.

Always plan for $5-10k in extra expenses that are not planned in the budget especially with older homes.

You never know when you need the extra cash and never know if you will upgrade your life.   

This is just a step to ensure you are being extra safeBasically, you can still do both in any market, but you have to be more accurate with your numbers when the market is shifting or nearing a shift.