Don't split the work between multiple contractors if possible, finding one to do all or most of the work will keep prices down.Challenges were finding replacement pieces for certain items as manufactured homes were very different than stick built as well as going through state guidelines for affixing the house to the land

We understand that not every negative item we dispute will come off.We persist until we succeed because you must have a high-level of doggedness as a real estate entrepreneur.We understand there will be sunk costs and time being wasted.

One your loans will be a higher interest rate, next you will have annual filings, the cost of a registered agent every year, and items like that. 

Like you, when I'm working with clients I highlight the key advantages of the conventional rehab loans (Fannie Mae's Homestyle and Freddie Mac's CHOICERenovation) are:- They can be used for investment properties- You can include luxury items- They have a higher limit – $806,500 in most places.Jeff

So, yes, it can be the best time to buy as the sellers listing during the winter are often the most motivated.

What were the biggest line items?

Would you have any recommendations, in your experience, for what to look out for in the documents that would be red flags or items that would negotiable?

Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

The inspections have become so nitpicky over purely cosmetic items there has to be an extra $1-2k per year to keep up with the punch list every 1-2 years.

Their children (now in their late 40s) inherited the house, but they have not listed it on the market, and I heard that neither is willing to move into it from their current setup, so the property has been sitting vacant.