A background check is basic and almost no effort and you can certainly pass any cost on to the tenant.

Once you have the data then talk to property managers and agents to get a better idea of the micro climate and other local knowledge. 

You also have to close twice on flips… once to buy it, and then to sell it… so closing costs should not be ignored.  

With simpler management, you’d have less risk and steady cash flow.

@Rob Ibarra Converting non restaurant space into restaurant space can be fairly costly from what I understand due to the need for larger than standard water lines to service the building and a general need for grease traps and other restaurant specific infrastructure.My first question around going from abandoned auto shop to kitchen is zoning, could you even get the use approved, and then are their any environmental factors in play? 

I've hard more than one discussion about it and he says sorry and asked if I wanted to share the costs of a fence.

In other words customer wants a spec house (at production hours cost) versus a production house, which if you are not set up for this, how do you price it as a non custom builder for only one home? 

Purchase price: $285,000 Cash invested: $40,000 purchase Price $285kRenovation Cost $40k (on budget)Renovation Time: 41 daysARV: $425kFeature sheet: https://drive.google.com/file/d/1PMMTCmYptc1Jiy14MgAImJyiiEonebQl/view?

It doesn't cost anything to ask questions.I think you should consider house hacking.

This approach allowed us to move quickly, securing the property and covering renovation costs efficiently.