I am about to flip my first house and I'm already learning a lot.

Requiring renter's insurance (separate from your property insurance) is also very important since they typically would not have the cash reserves to pay for a major damage such as water damage, ruined floors, fire/smoke damage, and you will be sued by 3rd parties if something happens to them while at the house if they have to go to the ER. 

(and yes, DSCR are personally guaranteed) The number of financed properties calculation includes:the number of one- to four-unit residential properties where the borrower is personally obligated on the mortgage(s), even if the monthly housing expense is excluded from the borrower’s DTI in accordance with B3-6-05, Monthly Debt Obligationsthe total number of properties financed (not the number of mortgages on the property nor the number of mortgages sold to Fannie Mae), with multiple unit properties (such as a two-unit) counting as one property;the borrower’s principal residence if it is financed; andthe cumulative total for all borrowers (though jointly financed properties are only counted once).

Most rust belt cities are similar, older housing stock, lower prices, higher risk.  

My partner would not be living in the house.

We were able to quickly sell this spec house on the MLS at full asking price.

The house ended up going under contract in just 17 days, in a market that was averaging 58 days on market in this area.

I spent the weekend researching and posting a blog about it myself: Fixing Up A House for Sale in CA Requires New Disclosures.I’m curious about your thoughts.

While the house itself can be flipped for upwards of 400k, new construction in this pocket is early clearing 500k pushing 600k.

He also removed a whole house alarm system without telling me.