I have seen some activity in Black Mountain to the east but there are a lot of other areas including Weaverville, Fletcherville, Hendersonville, Waynesville, Lake Lure.

If any of you who live in the Bay Area, Redwood City, San Carlos, San Jose, Mountain View, or surrounding areas want to get lunch I would be more than happy to coordinate that!

If it really hits the fan you have some equity cushion to sell if you need or choose to without bringing money to the table, short selling, or getting foreclosed on.

My question is: Now that we are at the closing table or close to it.

I work as a carpenter and 40% of my income is paid under the table.

No sense in leaving any cash on the table it you already have a Discover card. 

Rent it for a year ... now, you know you have a solid property, you know after a year you have a solid tenant, you know how much the operating expenses and rental income are, you've taken much off those unknowns and risks off the table, so you can now safely cash out refinance it to a level you know will cash flow (since you've validated the numbers), and can take that cash onto the next deal.

Here is the standard property management fees that I have identified: Free - property identification and email list; this will include number analysis$100 - inspection/tour fee per property selected from the list; this will include photos/video2% - Fee due at closing; 1% if over $100k10% - monthly rental chargeThe other missing factor here is that we bring a tremendous value to the table with our property identification and renovation team. 

Ask him if he's an active investor or if rehabbing is just a hobby of his, chances are if he's an active investor you'll be able to explain to him that in order to build a successful long term business relationship, he's going to have to be okay with you making 10-30k on SOME deals. 33 grand can be a shocking number to someone who doesn't understand the value you bring to the table, negotiating and finding these sellers isn't easy, it isn't as Concrete as "fix the roof" or "renovate the bathroom" there's a lot of wacky stuff you have to deal with, an active investor will understand this, a hobbyist most likely won't.

I have used grid paper and a drafting table for simple stuff for years.