The lender will perform a desktop appraisal but they will typically have a short view on the value of the property to protect the company’s investment which means you will be coming out of pocket more.

Best of luck in Beautiful Austin!

At this point they went ballistic and started accusing us of giving the home in awful condition.Its a beautiful and well maintained house with lots of new upgrades, professionally cleaned.

Cap rate, however, is commonly used as measure of value/risk.IMO, cap rate does NOT belong here (when talking about performance measure).

Realtors are good at marketing properties, PMs are good at tenant screening and selection, contractors are good at both making a property habitable / beautiful and at managing the costs of doing so, and lenders are good at helping you leverage scarce dollars to increase ROI.Each of these may or may not be the bottleneck to you doing your first deal.For instance, if your goal is to flip properties, you probably won’t need a property manager since you won’t be renting to tenants.

We would prefer not to pay for a whole new system if possible.I assume that we can't get a refund for the ****** work they already performed or ask they to pay for the unit they ruined.Thank you,[url=[/img][/url][url=[/img][/url][url=[/img][/url][url=[/img][/url]

Maybe profit from the sell and invest in performing cash-flowing assets. 

Did you use tools to study if the property will perform and at what rates exactly?

Doing research on this issue myself, it seems that certain title companies do not do dry funded double closes because they are uncomfortable with performing such transactions.

Investment Info:
Single-family residence fix & flip investment in Indianapolis.

Purchase price: $100,000

Cash invested: $350,000

We scrapped a 1895 single family home in a downtown neighborhood...