You need to be able to go to your properties on a daily basis to make sure the tenants aren't destroying them.

The builders risk is also a fully earned premium, so that means if you get the rehab done in just a couple of months and you want to switch to the standard landlord type policy, that's great, but you wont get refund of any of the premium you paid.

i would have been jumping up and down at 68k, but it's ok, the numbers still work. as i have said it before, everything happens for a reason and my short RE history has proven that statement many times.the house is 1400+ sq ft, located in westland, close to garden city, dearborn heights, livonia, canton (tagging lol). it has 3 beds upstairs, and an additional add-on family room with a fireplace. that family room is worth the 10k they asked for. if it didn't have it, i would not have gotten it.rent will be around $1,250 per month. that area of westland might not be able to get me much more than that, regardless of the condition/sq. footage.taxes - around 3kinsurance - around 500 per yearpurchase price - 80k, 20 yr , 5 yr baloon at 4.95%repairs will be around 15k, i hope. i updated one IDENTICAL, 1 street away and it was 22k, but that had roof, exterior, and a lot of bad contractors to deal with.i am still wrapping up #21 and working on #22, so we wont start on this for at least another month. but i am happy that i am just 1 month away. just 3 weeks ago, i was 4-5 months behind in the work i had.what else?

I wont do anything Im not sure on.

All of the baseboard heaters in the rest of the 3200 sq ft house were destroyed at some point.

For anyone that's interested, this is what I did:I had the borrower sign a new promissory note with my custodian name FBO my IRA account and destroyed the original.I had the title company create an assignment of the deed of trust to go from my name to my custodian name FBO my IRA account.

Problem is section 8 wont approve that amount. 

Animals can easily destroy your carpet. 

hello BP family I have been calling this seller for todays he called me back today I missed call when I called him back he didn't answer but text me 10 min later. ( are u a cash buyer)he wont answer call so we can talk how should I respond I was looking for seller fin. but should I say yes if go down on the price also I don't know what rehab will cost he only have one pic of the house I asked for pics of the inside he never responded. also looked   up property owner think he is an investor living in another town . any ideas or advise please

However, in real estate, if the deal is good enough and you know your market, you wont have nearly as much to worry about.Just my opinion, thoughts?