I will definitely give them a call tomorrow as we are in the process of selecting 3 GC´s to check the property and submit bids.

Cash would be $159kI would need to discuss this with my attorney but the nuts and bolts would be $184K purchase price, 7% interest only for 10 years with 20% down.I’m looking to make sure my formula is correct but would like for members to break this down.

If I understand depreciation correctly the renovation is being depreciated at 1/27.5 a year.

If it doesn't hit the above HUD probably also won't believe you will live there as your primary residence and may decline your bid until the investor period.

Also get multiple bids for ur floors cause as a small retailer I can beat Lowe’s and Depot on price and install.

I even told the seller that I would back out before DD expired if I can't get a contractor to fill out the bid paperwork by expiration.

Hi David, apparently my last post was solicitation, so let me correct that by saying welcome.

I might have wasted money forming that LLC...Another section of interest seems to work against real estate investors who want to lease their own properties from getting a real estate license in Virginia because the investor would have to be under the supervision of a broker while they are a licensed salesperson (at least three years) despite owning the property (if I am reading this correctly):"D.

We had so many issues with correct payments, insurance fees, etc.

He suggested ejectment would be the correct approach as there is no lease and it is not a holdover tenant.