It would be for $120k plus closing costs for a year or two until we could refinance.

And although I'm grateful to have found another lender to get it done, it cost me more money in points, a higher interest rate because of the current rate was higher than previous, and I had to buy another appraisal for $750.The response I received from one of the founders of the company states: "We are not able to refund any amounts at this time as the time of quality control has passed....

You have to include the cost of your time and the work, especially on a "scary house" is daunting indeed. 

It cost $38,000 for the framer to take on the risk and do the work - and that does not include the cost of the GC, or architect, or plumber that was also required!)  

I’d appreciate your perspectives.Here are the details about our current home:3/2 Class A property in a middle-America town with historically ~1% annual appreciation.Purchased in 2020 for $200,000 at a 3% 30-year fixed rate.Remaining mortgage: $150,000.Estimated value: $270,000 (based on recent sales).After selling costs: Likely $100,000 in net proceeds.Rental potential: $2,000–$2,300/month.PITI: $1,200/month ($700 mortgage + ~$500 insurance/taxes).Maintenance/CapEx/Vacancy (20%): ~$400/month.If kept as a rental:Net cash flow (self-managed): ~$500/month or ~$300/month with property management.Low appreciation potential but ~$400/month in principal paydown.Considerations:What’s the additional overhead of managing a second rental property remotely (3 hours away)?

You won't find a deal where you live for free, but if you can live in a great neighborhood at a reduced cost of living that is a nearly risk free way to get started in real estate. 

I predict that the substantial home price cost savings and greater control they enable the buyer to have will make them grow in popularity.

Hi @Jose SaladinThe deed would have to be transferred into your name like a normal RE closing + closing costs and other fees. 

Was your loan based on just the purchase price or the total project cost? 

Mind you, she used a legal aid attorney, so he didn’t cost her anything.