Also, the property needed some various cosmetic updates, especially if we are to operate as a STR, and needed a patch vs replacement on the roof.

Also, the property needed some various cosmetic updates, especially if we are to operate as a STR, and needed a patch vs replacement on the roof.

To answer some of your questions, I ran comps for the property and based on the comps, this property could be listed between $405k-$415k and with some minor cosmetic upgrades, paint, counters and finishing the other side basement, that is where I came up with the value add and increased ARV.

I know that a hard money lender is sometimes necessary for getting a loan on "yucky" properties that a bank won't issue a loan for, but are there any other advantages of hard money (besides moving more quickly) if we are doing more of a cosmetic rehab, or adding amenities?

A If it is a SFH- pay for a bid from a GC or other contractor if the rehab is just cosmetic (I have GC lined up for this).2.

Take pictures before, write detailed notes on what updates you did and what cosmetic flaws you've found.

Definitely best not to sweat the small stuff.My policy is that I don't charge tenants for damages until they move out, unless I am actually making repairs while they live in the house (which I don't do for cosmetic items).Most cosmetic damages are fairly inexpensive to fix.

For example, there’s a big difference in square foot cost between a cosmetic facelift and structural reconstruction.

We chose major medical only.. so office visits for ear aches etc et had to pay for..for us it worked out as we just did not go to the doc often .. we had one major surgery for my son ( smashed his finger ) so that worked out.now that we are older we need the full medical

You don't need an attorney to write it.Before I do anything, I ask myself "Does this involve brain surgery or rocket science?"