Because as we know not every property will be turn key. 

The key is ensuring the after-repair value (ARV) supports refinancing to pay off the initial funding without overextending.Fix-and-flip - This requires sharp numbers and market knowledge.

Leveraging seller financing creatively, with strategies like stepdown interest rates or unique amortization schedules, could be the key to bridging the gap until the property reaches its full income potential.

Each jurisdiction is slightly different but from past experience if your looking for a NEW detached ADU its going to be in the $4,000 - $6,000 range (depends on SF & components) but if it's an addition to an existing occupied building then it will be much less.

Some key qualities to look for include:- **Responsive communication**: A PM company that keeps you in the loop and addresses issues promptly- **Local expertise**: Knowledge of the Birmingham market and experience with Section 8 tenants.- **Proactive maintenance**: Regular inspections and quick resolution of maintenance issues to keep tenants happy and properties in good condition- **Transparent reporting**: Clear and detailed financial reports so you know exactly where your money is goingIf your current PM isn’t meeting these standards, it might be worth exploring other options.

The ability to see the major issues before you buy is key especially when buying dilapidated early 1900's homes.

Key is creating memories that last a lifetime.Excited to learn and connect with you all!

Neal and Dave also communicated that Neal is hard at work on a key part of the project, which will take several months to complete.Anyone on this thread should note that Harish Varma is not credible.

Ask 'Are the components of the house too worn out?'

Here’s a breakdown of the key elements you should include in your subcontractor agreement:Subcontractor’s Information:Full legal name of the subcontractor or company.Contact details (address, phone, email, etc.).Project Information:Internal Project ID or Purchase Order Number (if applicable).Project address.Clear identification of the specific scope they’re responsible for (e.g., electrical, plumbing).Project Timeline:Start Date: For the portion of work they are completing.Completion Date: Set realistic deadlines for their tasks, adjusted to your overall project schedule.Liquidated Damages:Specify a daily amount to be deducted from their final payment if they fail to meet deadlines (with exceptions for factors beyond their control, like severe weather).