"Risk of loss" cannot be construed as passing by virtue of the strength of the contract.  

FHA Reno's (aka renovation loans) do not allow luxury items such as a swimming pool, marble floors, granite countertops, etc.This program typically allows you to down 3.5% of the sale price, while the cost of rehab (materials, labor, and permits) can be built into the loan.  

Hopefully that will be when the cash flow generated from passive investment allows that luxury. 

If you allow for out of state investment:  You have the luxury of choosing positive cash flow or better appreciation prospects if the area (MSA) is at an earlier stage of the cycle. 

I was considering Luxury Vinyl Planks or Berger carpet.  

OK, without luxury of seeing enough pictures to know where everything is, and to save you money but improve the "feel":1.

😂 As it happens, we don’t have that luxury so you have to plan for the long term REI.

Today I absolutely donot use carpet unless its a luxury unit or a commercial unit that requires it.

(Or even a discharge against the remaining obligors by virtue of failing to pursue a claim against the original defaultee) Virginia, luckily, does not have that rule.

However, as tenants moved out in the spring, a trend in the market allowed for these units to each be flipped and subdivided as luxury condo units.