Hopefully the high season does well.  

Until about 2 years ago I owned a custom wheel company that built one off wheels for high end/race cars.I currently daily drive a 2005 BMW 745i, trying to decide what to replace it with.

This approach covered the $136,000 purchase price, enabling a swift acquisition.

At $200, unless its almost new or a high end stove, you may want to consider a new one instead.

We have a lake house that rents for the same rate as a hotel in the area, therefore our occupancy is super high. 

For extra formality, put it on a nice document with your letterhead.Re: Non-Binding Letter of Intent to Purchase Real Property Located at [Property Address]Dear [Recipient's Name]:This non-binding Letter of Intent ("LOI") is submitted by [Your Name] (the "Buyer") to [Recipient's Name] (the "Seller") with the intention of setting forth certain preliminary terms and conditions for the proposed acquisition of the real property located at [Property Address], inclusive of all improvements, appurtenances, and fixtures thereon (the "Property").Purchase PriceThe Buyer hereby proposes to purchase the Property for a total consideration of $[Amount] (the "Purchase Price"), which shall be subject to adjustment based on the results of the due diligence investigations and final negotiations.Earnest Money DepositContingent upon the execution of a definitive Purchase and Sale Agreement (the "PSA"), the Buyer shall deposit earnest money in the amount of $[Amount] (the "Earnest Money") into an escrow account designated by the mutual agreement of the parties.

Hey Mitchell, Doing a fix and flip in today's market with high-interest rates can be challenging, but it isn't necessarily a bad idea.

@Brett SynickyI would probably say that the fees are high, but that’s not telling the whole story.

Taxes wise I have opened up a high yield savings account and putting money into it in case I do end up owing taxes next year, but what do I need to be saving as far as forms, I don't have the tenants on a lease yet since this is my primary on the mortgage, but I am giving them receipts when they pay rent every month and keeping those saved.

You may want to consult with an insurance agent to understand the impact on liability coverage.