Feed a man a fish, and they eat for a day,Teach him how to fish, and they eat for a lifetime.

We’ve learned quickly electrical and duct work in a 1940 built home will eat a budget fast…At least the exterior reflects a vast improvement.What made you interested in investing in this type of deal?

Unfortunately, it will eat up all the cash I have and some of 2022 cash, so I may not be investing in much else next year.Goals for 2022?

If your cash flow calculations are correct, that would probably eat most or all of it. 

Also keep in mind in most places if you repair it yourself you eat your labor and there really isn't any materials to speak of for this.  

Eat at places there.

I have been told that I should take out intrest only morgage rather than a capital repayment since it will eat into my profit.but how do I start paying off my properties?

These were largely sourced pre-CV19, so eat the fish and spit out the bones.The DTI percentage range varies by lender, and is less than what you will find for an owner occupied property, due to lender risk.

I agree about having the pre-determined move out date as it would continue to eat into the cashflow for however long over the 1yr I stayed there (looking to do an FHA loan or similar alternative).

What’s your thoughts on taxes eating up your flip profit?