By over pricing your home based on the current comps in the area your essentially using the market against you.

The long term growth in property prices in the LA Long Beach metro is about 7.14% (1976 to 2016, Federal Reserve); so using the rule of 72, the price would or should double in 10 years.Also the 45% expense estimate is in some ways high as there are companies able to achieve 38 to 40% and rent would or should be expected to grow at at least 3% per year in LA even with rent controls to keep pace with inflation.It is sort of the nature of the LA market and some of the other markets where you essentially go long, as opposed markets like Atlanta or St.

Essentially took 3 months, the difference there is it rented for exactly what we thought it would.

See below..Purchase price: $180,000Down payment 25%: $45,000Finance 75% of purchase price: $135,000Finance 100% of renovation: $50,000 Total financed before refi: $185,000Total all in before refi (total financed+down payment): $230,000Cash out refi at 75% LTV of $310,000 ARV: $232,000So you could still pull your down payment back out and essentially be into it for close to nothing, with 25% equity - if all goes as planned.

So let's just say $700/mo was essentially wasted.

Biggerpockets has the Ultimate Beginners Guide which is essential to read.

I consider it was an extraordinary experience in terms of learning but essentially on profits made in a pro business environment country with solid and clear laws, both for tenants and landlord.

Essentially, if we have a total loss on the last day of renovation, I'm covered for the amount I could lose (basically my maximum all in amount less a conservative land value).

Having a good scope of work and proper monitoring of contractors following the plan and staying on budget is essential but only provides the outline for the expected not the daily unexpected that's the reality of rehabbing. 

Essentially just cosmetic type stuff.