If this was a brand new house then your number would likely be sufficient.

It sounds like you probably didn't do sufficient due diligence on this guy and/or don't know him well enough to predict how ethical and trustworthy he is.

If they don't know how to arrive at sufficiently good answers - THERE'S their answer! 

Without a deposit you fail to meet sufficient consideration for a bilateral contract.

@Shannon K. if the ARV is sufficient enough to cover your renovation and CC, then the short answer is yes.

The discussion here is that many of us are dealing with hundreds/thousands of transactions, and therefore Excel isn't sufficient for keeping track of finances.In your example above, regardless of whether it's one journal entries with 1000 lines or 1000 entries, the complexity is still the same if you're trying to use Excel instead of QB. 

As I'm conducting more research,  I believe it's best to start off without forming a legal entity until I secure sufficient funding.  

Joe Villeneuve there is sufficient room in the numbers and I've seen what this investor can do, so I'm comfortable there.

It's sufficiently common that I have the max sales price in my area with exactly 3.5% down memorized -- $648,186 for a SFR.

I've spoken to a couple of agents, and I have not found anything that will provide sufficient return.And this week I had a thought (more than one, but one relevant to this discussion!)