I do continue to set aside a little bit each month after the 5K in reserves for proactive inspections and updates/repairs.

I've painted, updated outlets, lighting/ceiling fans so far.

It also helps the property I am buying is a good deal with light rehab (make tenant ready plus paint, fixtures, and updating the full bathroom).

Updating entire house and adding a bathroom/finishing basement!

I've also polled several of the people in my network (contractors, flippers, wholesalers, brokers) asking what they are seeing.Below is my updated budget (padded) for Spring/Summer 2021. (1) Note that the 2020 numbers are a padded (I pad everything) high average of budgets pulled from 4 houses I flipped in the PNW in 2019-2020. (2) If the official numbers were below inflation, I used Inflation (Shadowstats.com). (3) The overall increase in price on my breakdown is close to the overall data I've found online, which makes me think I have a decent updated budget for eyeballing deals with. (4) To reiterate, the numbers I started with were unique to my situation in the PNW, so please don't take them as gospel for you!

I intend to update my units over time so it would be great to see how your building turned out! 

That wouldn’t have been too demanding except eliminating COVID was the 4-Star General’s top priority, which meant we were running COVID tests for surveillance day and night and he wanted updates 4 times a week.

Figured I'd share an update with everyone:I spoke with a local attorney and what they suggested was to try and get proof of rent payment from the tenant for the past 6months+ in order to understand my risk a bit better.

Just be prepared for the rehab cost and major updates needed

Also spoke with Eric and he sent over an insurance quote that I then provided to Flat Branch724/9/20213:00 PM3:15 PMSent an updated mortgage statement to Flat Branch as well as connected my NWM account to AccountChek.