I'd love to hear how this deal progresses, keep us updated!

I do not want put too much on my plate because I need to excel in the financing before I will able to physically invest into my own properties.I need the right marketing strategy for connecting home buyers to motivated sellers or their agent.Any suggestions on how I can progress things and start closing deals???

With projects with multiple draws to ensure the project is complete it is important to withhold retainage.Retainage is a standard construction practice where 5-10% of progress payments are withheld until the entire project in complete.Basically you are holding onto the contractors proffit until the project is complete.

Thank you for your advice and will continue to learn and update everyone on my progress!   

Things got better as the project progressed, but please don't underestimate this if you plan on doing a live in rehab like I did.That being said, here are the numbers again if I paid someone for my labor and if I didn't occupy the property during the rehab.Project TotalsPurchase Price - $78,090Acquisition Costs - $11,470 (Hand Money, Closing Check, Home Inspection, Appraisal)Rehab Costs - $43,800 (Materials, Labor, Interest) Holding Costs - $6,450 (Taxes, Insurance, Utilities, Mortgage Interest, 9 months)After Repair Value - $148,000Original Mortgage - $70,280Equity - $77,280Bottom LineTotal Cash In - $61,720Total Cash Out - $59,000Net Out of Pocket - $2,720Future plans are to complete a similar project where I don't live in it.  

*** Strongly consider getting a contingency within the listing contract that allows for both parties (you and the listing agent) to review the progress of the sale of the property within a specified period of time (60-90 days).  

My investors all warmed up to my new company.Im happier bc new company allows me to progress as my LLC as investor too.

The debt to income ration stipulations of mortgages these days is putting a damper in progress.  

A common eviction progression in one of the areas we have apartments is:1) Send tenant 7 day notice2) Go to court after 7 days and file for eviction.  

Yes LA is definitely a progressive city.