They took poor advice promoting illegal activities:) We have a REIA in our area that is doing the same thing.

Hi Tom.. search BP forum and you'll find in depth answers, but on avg it is (assuming up to 1500 sq ft)$35/ft (DIY and buying materials on discount)$50/ft (hiring out most stuff, medium grade finish)$75/ft (high end finishes; hiring all work out)Exterior.. if brick.. powerwash and repoint.. look around online/in neighborhoods (esp when it warms up)..

How did they get started, Do you have any body that I can speak to that you have done business with, and last but not least do you invest and or manage properties the areas you are promoting.

Some people will learn and do some deals on their own... cool too (I believe in paying it forward and universal Karma), some will want to know more and buy training... cool... and others will bring me deals that we can JV on... coolest :)So anyway, I know BP isn't huge on promoting URL's and stuff like that but shoot me a message here or on FB and I'll send you some info.

If you can do some work yourself, you really only need to be able to cover the materials for those jobs.I aim to keep around $20k-$25k in cash on hand for unexpected repairs on 9 houses and two 2 families.

If the taxpayer materially participates in each rental real estate activity, his/her losses are fully deductible, and the $150k threshold no longer applies.It sounds like you are familiar with the test, but I will restate it her for the sake of completion.At least 1/2 of personal services in all businesses for the year must be performed in a real property trade or business and rental real estate.The taxpayer must spend more than 750 hours in real property businesses and rentals in which he/she materially participates.Both must be satisfied.  

I spent 6 months listening to all the BiggerPockets podcasts and reading as much as I could from all the BiggerPockets Books and spent a lot of time in Home Depot and Lowes learning cost numbers for materials.

I am an 18 year old from Illinois, USA.You can find plenty of reading material at www.biggerpockets.com/booksFeel free to PM (Private message) me on BP anytime if you have any questions on where to find information, network, or anything else!

If the property is owned less than 12 monthsWill lend up to 80% of the original purchase price and rehab amount if material improvements to the property have been made.Will lend on the original purchase price if the property has not been materially improved"I think you're right though, they may cut the ltv to 70 and not care too much.There are other lenders that have long term financing without seasoning, is generally easy to qualify (many don't have any income requirements) and have reasonable ltv's, but they are not cheap in rate or points@Andrew Hunt PM me and I'll point you in the right direction given your circumstances.Stephanie

Calling being the first, and then scheduling a time to get out there in person once I have my business plan and supplemental materials in hand.