It was around 250.00 at it's peak when we had around a 60K balance.At some point, the draw period ends, and after that you have to pay back interest and principle.

Not factoring in holding costs and everything.Quick/Not Exact Example:Purchase: $35kRehab: $30kSettlement Costs: $5kTotal Initial Investment $70kARV/appraises = $100kRefi @ 30% LTV to take out My Initial $70kMarket rent = $1400Now, I know I should definitely aim to be cashflowing for sure even AFTER the new debt service is in the equation.But where do you draw the line?

On the flip side, an indemnification agreement needs consideration from the landlord (lower rents claimed to be charged).Here, it's pretty landlord friendly but they do draw the line with light damages being normal wear and tear

There is no substitute for experience and I am hoping to pick as many brains as possible to draw on your experience.

My point is that it is wise to do your own research, drawing from various sources, and think it thru and decide for yourself.

Your partnership agreement will be similar to a contractor agreement, except with no markup or profit, where you pay the costs as periodic draws upon completion of the work.

Sorry, I couldnt resist.And then, bout the time I finished, it dawned on me that it almost seems as though this was a crafty ruse intended to draw some of the best in the biz over to hoatalk.com!

Haha Allright folks, I shall go back to the drawing board and make some truly clever for an intro!

The contractor might need some advance money for permit fees, drawings, survey, etc.

I agree with you Joel, while 21 units typically draw in certain kinds of tenants, I believe it still can be rewarding if we are careful.