If it is a full service tenant, that is a lot more cleaning, a lot more HVAC and a lot more things that seem simple but can add up -- toilet paper, paper towels, etc.  

Also, notice 'soft' spots as you walk.

When you throw in the towel and say there is nothing out there, you lose the most important part of real estate investing - the creativity and drive to make deals happen that HELP OUR COMMUNITY with much needed quality housing.

JoeIm in the same situationJust to find a bank to move conversation forward was hardI went to Wells Fargo (after my own small personal community bank I have my business accounts) but they do not lend outside California.......others WOULD do an LLC but not on the SF or 4 plex's.....Only 5+ unitsThe only answer I got so far was take the property out of the LLC, then the loan would be based on whomever holds the titles credit (my problem,   too many loans, unfavorable DTI ratio, self employedNext step is to contact Jason above......

if you're repair costs wind up being $80k and your ARV of $135k, with soft costs (commission, property taxes, interest, etc) of 10% of the selling price, you'd make $10k. 

Everytime I think about throwing the towel in I hear another story, like Lance's, that inspires me to continue the process because I truly do believe in it.

Everyone in Houston is looking midtown, EADO, Energy Corridor, but there's a very soft market north of 610 that is ripe for an influx of money.

Also you have to factor in included utilities (and a higher cost for them since guests will run A/C & heat the entire time they are there since they are not paying for it) as well as replacing furnishings, bedding, towels, soap, etc.

This is a pass through cost to guests, with a small upcharge to cover toiletries, dish soap, paper towels, etc.My housekeeper invoices me at the end of each month and I cut her a check from my online banking system.

And don't be afraid to soft soap them a little bit as to how big your rehab was.