Feel free to inquire about their staff qualifications if it's a larger organization.2.

Also make sure to build on a property located in a desirable location with larger pop density and if holding for rentals, charge median rent for that market as lenders want to see a bigger pool of buyers/renters available to occupy/sell. 

Plus, it would be a first renovation project, and other properties we may be able to close on are huge projects.

Commercial real estate deals involve larger sums of money and require a deeper understanding of the industry, so it's important to work with someone who has expertise and experience in this space.

Hi I had my property manager handle my renovation on a unit in Maine while I am living in Connecticut.

There is very little profit when undertaking $45K renovation projects therefore most qualified contractors will pass on those bid opportunities. 

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

I didn't make any renovations as the property was already in good condition.

You can still achieve it, but finding deals that actually pencil out on all criteria (low enough purchase price, low enough renovation cost, cash flows on the backend, all cash out at refinance) is pretty hard.

Here are some key takeaways from our experience flipping homes and running a renovation business in San Diego.1.