I think it may depend on whether or not their software catches the change.

It also depends how distressed - knockdown, full gut rehab, cosmetic rehab, lipstick flip.

If I had to pay my cleaners on top of the loss income it would impact even more as my cleaning fees range from $100 to $400 depending on the property.  

It makes sense to run the numbers, but will depend on the appraisal. 

But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

I tell most of my students I would manager myself at least 3-6 months depending on the learning curve.

A home loan is made via the note with a Mortgage/DOT (depending on state) attached as the security instrument, which allows the home to serve as collateral if the note is not upheld.

I see that real estate agents and brokers are too negative on sub to deals……investors looking for low interest rates and or low down payments are too positive on the same.As I stated the reality is somewhere in between, depending on individual circumstances.  

Depending on how hands on I am.

Really depends on what you are looking for.