We try to limit as much risk as possible while reducing the capital carry. 

Labor should be $100/hour.

This also removes the FHA’s mortgage insurance premium (MIP) requirement, reducing monthly expenses.Owner-Occupied Financing: If your next property will also be owner-occupied (e.g., a duplex or multifamily), you may qualify for a conventional loan with as little as 3%-5% down.HELOC or Cash-Out Refinance: Use the equity you’ve built in your current property to secure a Home Equity Line of Credit (HELOC) or cash-out refinance.

The didn't live within their means, accrued a lot of debt, and it eventually resulted in them not paying rent and being evicted.Consolidating debt reduces their payments so they have more money available, but it doesn't automatically teach them to live within their means.

A loan commitment letter carries more weight as it confirms lender approval, signaling a stronger ability to close.Addressing Closing Concerns: A commitment letter meaningfully reduces concerns, especially when paired with proof of equity and a track record of performance, even if on smaller deals.What Brokers Look For: Key factors are a reputable lender, clear terms in the commitment, and evidence of funds for equity and reserves.

This streamlines operations, reduces administrative burdens, and retains liability protection.

Flat Fee buyer agency to reduce acquisition costs (get ~2% of the sales price back), and flat fee MLS listing to reduce selling costs to ~$500.

Rehab costs and  are key parts of evaluating deals, so it's great that you're diving into these concepts early.For rehab costs, creating a rough estimate starts with understanding the scope of work and local pricing for materials and labor.

What are some pros that I can highlight from the seller’s perspective.Here are a few that I’ve come up with:1) monthly income at a higher interest rate;2) avoiding a larger tax bill by reducing the purchase price (on paper);3) a promissory note that they could potentially sell down the road.Any other major ones I am missing?

.- Getting under contract and then reducing the price because of findings is common, but major reductions are likely to tick off the seller unless you have strong justification.