While 6 months PITI is a healthy reserve goal, know that in the short-term you can stop-light these expenses to help stretch your dollar while in rehab.

- Replaced the front facade- Added a half bath downstairs (not typical for a bath on first floor of PHL homes)- Complete renovation of kitchen- Brand new HVAC throughout house- Semi-finished basement with sealed floors and painted floor joists- Added closets to second and third bedroom

Is it a gut rehab or light renovation?

You can have several lenders make a single loan and each have an undivided interest in the note and lien secured by real estate.My private lending package consists of a deed with vendor's lien, promissory note, deed of trust (Texas), a business purpose affidavit or personal guaranty, lender's instructions to the title company (because I only represent the lender, even if the borrower is my initial contact), and letter of non-representation (explaining that I work for the lender and paid by the borrower).The State Bar of Texas encourages its members to educate the public on areas of law, and in that light, this is for educational purposes. 

The home needs light rehab.

Here a quick tip for when you are interviewing companies ask them this question "what are you steps to address a broken hot water tank"If they answer, send a plumber out and address the problem, you know they'll charge you an arm and legIf they say, they'll walk the tenant through trouble shooting steps like resetting the pilot light, you know they'll save you money 

Hi all,Brand new to biggerpockets and learning a TON over the past few days from the youtube page, podcast and website.

I am in the same boat, brand new/not brand new haha!

What's the brand name? 

So now the question is yours to answer; Do you prefer A) a 75 year old triplex in an A+ area with a negative $2k monthly cash flow but anticipating appreciation or B) a brand new triplex in a C+ area with $750 positive cash flow.