Is there a software out there that you use or recommend to enter all of the expenses into that will help with totaling all the expenses accurately into proper categories for year end tax stuff or by each project?   

Taking on a big renovation project for your first out of state deal can be especially challenging if you're managing contractors that you've never worked with before.

This essentially means that, during renovations, he has the opportunity to bring himself all the way up to 50/50 partners with me, or close to it.What does not sit right is that I have created this whole opportunity and would like to feel compensated by retaining significant value in the project rather than opening the doors for losing 50% of my investment when I am certainly able to do it on my own.

So avoiding that vs the opportunity to raise the rent with a future lease renewal is an easy choice. 

Investment Info:

Single-family residence fix & flip investment in Devils Elbow.

Purchase price: $135,000

Cash invested: $1,000

Just got this under contact… In the due diligence phase… Contractors...

I have funding lined up for at least 80% LTC of the project but I want to raise an equity ticket.

We've already selected a design for the quadplex and acquired a detailed cost estimate for the build, which we project to be around $1.2 million.

@Paul Baldwin - I have found there are two ways to understand/learn something....find someone who already knows or teach/learn yourself...the later works, but just takes longer and often has room for more errors.There's no true cheat sheet until you have done enough projects in your specific area!

CrowdStreet has been great, some projects require up to $50K down with most at $25K.

If the GC doesn't have the money to invest  with you and all he has is the sweat equity then consider having him do what Tom is talking about and after 1 or 2 flips the GC can use his profits to invest on future projects with you.