The property was built in 1750 and stone walls in the basement need reappointing (they're falling down), rotted wood beams need support, rotting floors, damage ceilings, majority of the outlets are ungrounded, etc.

Some more cash flow helps when you have those unexpected repairs.

Hello and thank you in advance for any suggestions or critiques!Question:  Would a standard sales contract with a walk-through/acceptance after the rehab is complete period be a reasonable way to proceed to get a buye...

Buy-and-hold folks like me that do have cash-flowing properties are able to use that cash-flow to pay for unexpectedly high repairs, cap-ex items, etc. and not "come out of pocket".  

. :)(If something unexpected comes up, like a job transfer across state, that isn't fraud)

We haven’t made it there lately because of our schedules but, if you decide you want to check it out, let us know.

Things have gone well so far but the sellers have presented me with an unexpected bump in the road.The seller has requested that I release my earnest money.

This might push you unexpectedly into a higher tax bracket and eat your profit.I personally only want to flip when I am cash hungry to put another 25% down on a four plex.In conclusion, if I was only flipping / fixing, I'd have money in the bank but, no equity, no regular cash flow and probably not a healthy set of Business line of credit.  

I did have two major unexpected costs: there was a major water leak that Cleveland Water did not notify my about and gas lines that needed to be replaced going to the furnaces.

Make sure you have outlets and good wifi, and you'll be able to charge a premium for units 10x15 and up units. 4.