@Marcus R.Thank you Marcus I was going to mention all those questions you set after my initial email I shortened the email to "I hope this email finds you well.

I got good at estimating renovation costs by making an initial estimate based on photos/walkthrough, drawing up a model like you see here, then once the project is finished, go to accounting, get the actual expense report for that property, and update the model.

I have not purchased since Dec 2021 and have not gone this long without buying a property since we purchased our initial investment property.Tell me why I should buy or not buy this property.

His initial opinion is that it has to be prorated but that is contrary to what I have heard on YouTube. 

I inherited their services when I purchased a sec8 rental property and initially decided to keep them, assuming it would be the simplest solution.

My initial guess would be look at 1 bed 1 bath rentals in the area but is that the best way to estimate?

While he wasn’t successful getting the insurance companies to accept liability (initially), he pointed out to the plaintiffs attorney that (1) the owner of the condo was an LLC, not me personally, and that’ll business concerning the condo was done in the name of the LLC, and (2) the only asset of the Series of that LLC was the condo itself, so that the legal entity owned only that single asset.  

The main reason is that it is not initially set up for a Real Estate business like other “real estate-specific” accounting software.

If you catch these at the pre-foreclosure stage as slow pays or initially in default all the better as the bank has less in collection expense.You can still work out a discount but even buying at the payoff it can be profitable depending on the property value.You can practically force a lender to sell as it can fully indemnify them as a full payoff as demanded, continuing with a foreclosure becomes a rather vengeful act by the bank to punish a borrower, they don't want to go there.

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