Renovation loans such the 203k, Homestyle, Choice, etc. for a project of your size will require 1 GC to run the project.

Hi all,I live in Chicago and am closing on my first multi-unit property in Hammond next month.

Financing, appraisals and building inspections from prospect buyers could delay the closing quite a bit.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $61,000

Cash invested: $60,000

Sale price: $191,000

The biggest expense of this property was the nine 20 yard d...

If you choose a cheaper fix now, keep a close eye on things to ensure no new issues pop up.

The following is from Stessa in regards to your situation:"The cost basis used for depreciation in this situation is the purchase price of the home plus certain closing costs, plus qualified capital improvements (such as a new roof or other renovations).

I believe in taking matters into my own hands by strolling around the property alone to have a firsthand look at the exteriors and analyze the general condition.During these inspections, I pay close attention to important details like drainage, brick or siding condition, sidewalks, and even resident profiles.

I expect the time between close and sale to be 3-4 months.

Preferably within driving distance, but I live close to the SC/NC border anyway.

You may want to consider this before paying $1-$2k for an appraisal and not have the loan close.