There is no such absolute rule or mandate for REI - it is up to you on your comfort level with your cash flow versus total investment versus appreciation potential.If I followed that rule, I would have missed out on a LOT of great opportunities over the years.We bought a house in Jones Valley in 2017 with negative cash flow - why? 

It's called a payoff statementif it's a big lender you will not buy the loan as it will take forever, you are better just paying it off. you then can foreclose based on the total balance owed to you which is both loans and any accrued interest. regarding fixing property or selling as is, that really depends and needs to be evaluated on a case by case basis 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Since the last time I was online, I have grown the investing to fix and flipping and a portfolio of 4 properties that are producing passive income.  

He also said my GC could complete the install and knock 20k off the total, which I would do, so the total seems to be 355k to get the home in place.

As @Mike Lambert mentioned the Southern Italy market where you are at is a totally different market than the rest of Europe and even within Italy.  

That is one of the reasons we have set in place notifications for any estimate of repairs exceeding $500 of which these repairs were 10 times that amount in total.

Totally understand that those things don't closely mirror the BRRRR model too closely, but that's what I'm seeing right now. 

.—(1) Whenever money is deposited or advanced by a tenant on a rental agreement as security for performance of the rental agreement or as advance rent for other than the next immediate rental period, the landlord or the landlord’s agent shall either:(a) Hold the total amount of such money in a separate non-interest-bearing account in a Florida banking institution for the benefit of the tenant or tenants.

Quote from @Tyler Kesling: @Randall Alan- Totally valid points.