Property taxes will likely be reassessed based on the transfer value, so confirm local rules to anticipate potential increases.If you hold the property for at least one year, you can use the equity as collateral for a construction loan, aligning with your long-term financing plans.

., HVAC tune-up, plumbing fixes)Deep clean entire property pre-listingEstimated Cost: $5,000Total Estimated Renovation Cost: $145,000Project TimelineWeek 1-2: Planning and DemolitionFinalize design and materialsObtain necessary permitsBegin demolition (kitchen, bathrooms, floors)Week 3-5: Structural and Major InstallationsInstall new cabinets and countertops in kitchenComplete bathroom tiling and vanity installationRefinish or replace flooringWeek 6-7: Painting and FixturesPaint interior and exteriorInstall lighting, hardware, and plumbing fixturesWeek 8: Finishing TouchesLandscaping and curb appeal updatesDeep cleaning and stagingTotal Timeline: 8 Weeks*This link comes directly from our calculators, based on information input by the member who posted.

Are you both friends and have unique skill sets and are breaking up the duties of investing based on those skills?

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

If you want to buy  STR or MTR, i recommend buying next to hospitals there or near strong economic bases.

Annual fee $25.PenFed - max 3 other properties, 89% LTV Regions- yes HELOC but no LOC SCCU Florida 70% LTV, 6.25% interest only, not LLC Sound CU "non-owner occupied HELOC, capped at $150K and interest rates are prime + 2%, 3% or 4%, based on credit, not to exceed 70% ltv.”TD Bank TIAA Direct was EverBank Tower FCU, all states except TX, max 45 DTI, green card ok.

The cash flow that you need to achieve should be based off the rest of your portfolio and your financial situation as a whole.

I would underwrite buyers based on stability of income, financial payment history & ability to pay.

I'm sure it was highway robbery - it certainly was based on the man-hours it took - but when you are in a desperate situation, you do what you have to do to get yourself out of it.  

Make sure to run your numbers conservatively and based on the current as is value if you plan to go this route.