I know someone will point out the "tax benefits" of paying interest to the bank but, that "tax break" can be obtained by making an equal donation to my church-paying the bank a DOLLAR to avoid payig the IRS TWENTY FIVE CENTS makes no cents.5.

Rents are $1500K. 3 bed, 2 bath SFH.The way we're going to structure it is I will obtain financing for the acquisition plus $5K of the rehab, and my partner will take back a second lien at close and finance the other $40K of the rehab.

The property we have obtained came with two existing tenants.

Does anyone know how much it would cost to obtain an elevation certificate if a property is located within a flood zone or near a flood zone?

Seller to receive excess $$ (approx 1/3 of amount held) around 90 days after closing once the open item bills have been obtained by the Title Co and paid. 

Since you know the costs you can see if the contractor is gouging you.You can also write into your materials contract that Contractor is allowed X% waste (5% to 8%) on indefinite quantity materials and X% mark-up (5% to 20% depending on complexity) for all materials.It is not uncommon for contractors to be able to purchase items cheaper than you can due their purchase volume.

In Ohio it is illegal for an individual to Sell, exchange, purchase, or negotiate the sale, exchange, purchase, of any real estate for another, for a fee, without first obtaining a real estate license.

Once legal title is obtained, the wholesaler is now the active seller of the property and then executes the contract between themselves and the cash end buyer.  

The way it reads the contractor took Nat's property from the job site and substituted them with materials obtained somewhere else. 

Running the numbers, it would cashflow $170 with obtaining $1600 in rent and that is accounting for everything but PM fee since I’ll be doing that myself.