It's a bummer, but the quicker you move on, the quicker you can find a great tenant who actually pays their rent.Don't waste another minute on this tenant, cut them loose.

This worked for me on listed properties in areas where I was doing general, lipstick, and mid range flips.But to be crystal clear, there are no short cuts to estimating rehab costs completely accurately, you need a site visit and know how so don’t let anyone tell you that you can just use a price per SF, you will be off more times than on.

@Joseph your best bet is to cut expenses, and increase your savings-gap as much as humanly possible.

Lots of old houses were built before codes were enforced so we see lots of things like missing headers or strange methods for hanging joists or cut out structural elements for heating ducts and things. 

Maybe I do a HELOC so I can use a portion of my equity and start with something local to cut my teeth on the process over the next 6 months and then plan to use more equity later to get a property in a remote location.

They are great but that cuts into a lot of cash I need for the deals. 

That will cut into the profits significantly. 

If you're not a builder don't cut your teeth on this one. 

You can cut costs on a lot of things, but I wouldn't recommend it for this. 

They both are a done deal they have already made the curb cuts for the hospital and have sent out flyers to local residents asking their opinion on what the front of the hospital should look like in the hotel has been confirmed as well.