But there are always circumstances where more or less might be appropriate depending on how you can demonstrate your "intent".Both practices can coexist in your business model.  

If I have a budget on a house that sells for 150k ARV in MI and I budget 40k but something unforeseen makes it 60k I am left with very little profit whereas with home prices in Cali easily over 400k you easily could have 2-3 major miscalculations and come out on top.

I think it is good in those circumstances where you know that most of the neighborhood is going to hit your criteria (war zones for examples where all of the houses need some love).

If you get another renter in quickly, then refund her for the days when the rent was covered by the new tenant.Forgive her of the early termination penalty only if there are extenuating circumstances.

I am going back to the states in a few weeks and am going to try to find some local banks instead of BOA, my long term bank, who can't accommodate unusual circumstances for a cash out refi.Best, W

Correspondingly, all business income taken from an LLC under similar circumstances is subject to self-employment taxes.

If we assume we can rent it for $800, with the parking situation, the financials are very attractive.My question is, are we taking too much risk making this decision to buy based on the assumption that we can rent out the 3/1 under these circumstances?

Whether that is good advice or not depends so much on individual circumstances, so we cannot comment much more than that regarding such generalizations without knowing a whole lot more about the specifics for the individual in question.

Is he willing to compensate you if you bring him a buyer under those circumstances?

I know they have those "special circumstances" under which it's acceptable to have two, but I'm talking about closing out one and opening a new one.Any thoughts?