Your scenario doesn't answer improvements/capital repairs.Seller financing is usually short term 3-5 years with a balloon note. be prepared for 1 or 2 properties to eat up your cash reserves in a recessionRental occupancy and rates may decline in a recession

I find the most important thing when going through the rehab is to make sure you are not over improving the property relative to the other rentals you will be competing against.

I have watched a bunch of you tube, I have listen to the note queen.

Exterior/amenity improvements, unit interiors roughly 50% of the total, add 3 additional units in storage space.

Exterior/amenity improvements, unit interiors roughly 50% of the total, move leasing office from unit, to extra space in building next to laundry room (making laundry room much smaller with new laundromat next to property)

I am hoping to add some simple/cosmetic improvements to the house for a good ARV.

It allows you to buy properties for less, because of their condition, improve their value, attract better tenants and create equity in the process.

(This is done in “banking”)===If you don’t want to swing for it but like the idea of speeding up reporting from excel you could use “Data Validation” based on a list (YouTube it).

@Steve Hall so its fraud to use “spend down” to make home improvements to a condo in a trust?

well what I would do is tell the seller the house needs 45k.. and since he holds the first you are improving his collateral therefore its safe for him to take a smaller down payment.Maybe offer to escrow the rehab funds so that if you say your going to rehab but don't he can go in and grab his 25k that is not coming to him in the form of down paymentlet him be in control of that 25k in some manner.. that may work.Its just like when I tie up development ground if I have a very cautious seller..