Doing renovations might not materially impact their opinion of the value (i.e. you might over-improve for the neighborhood). 

As long as one parent has sufficient income to meet your guidelines I don't see it as material.

Hey All,I have a two flat that currently has galvonized steel plumbing and I want to replace it with Copper however my friend is a plumber and does phenomenal work and will do it for me for a phenomenal price as long as I get materials (no big deal).

. ;-)@Robin Lewis In paradise my PM would also be totally awesome in checking, analyzing and telling me what improvements I could/should do (I'm somewhat of a distant owner), organize the contractors and material, overlook everything, kick some butts here and there, provide progress reports and ultimately pay everyone involved and then invoice me accordingly.

The first third is usually for materials, the second third can be after the framing of the deck is built, new footings are poured (if they needed to be) - which is two inspections, one for footings, one for rough framing (but not always enforced in Boston), and mostly covers materials and labor.

that was my line of thought from the beginning...but I felt that they shouldn't be getting half unless they paid  something ...not a lot but enough for me to purchase more signs and marketing materials for them and invest back into my company.

I have a 740+ FICO, great income with my job (medical field) however with student debt (and some materials paying off for renovations still) i don't have much savings.I was thinking of refinancing into a conventional loan or a 5/1 ARM to save on MIP and interest rate and aggressively save x1 year to then try and purchase another fixer using an FHA loan again (because I can put down less).  

I think we paid under $40,000 back then for material and such.

If I have the proper margins based on solid ARV, it's getting a solid ARV and rehab costs.I have been lurking and reading all manner of RE material for a year, I made a promise to myself that I would have something under contract by end of July.  

Look for someone who can present you per line item basis, and separate labor and materials, then buy materials.