Last night after a long day of work and trying to buy a couple Christmas gifts for the kids (I am so behind) I got emailing/texting my property manager about an idea to leverage some staging I did at my apartments into a full on furnished corporate rental option....simultaneously I was emailing back and forth with my contractor about our rehab project....while simultaneously updating my website, tracking invoices, preparing financials for my CPA....and eventually at 12:30am I threw in the towel on getting up at 5am to get my run in (also training for my 23rd marathon).  

: 1) buy the house by using $50k in cash from a HELOC2) get an invoice from a contractor for the $15k in rehab costs before closing and put the $15k in escrow with your closing attorney in charge of the escrow3) on the HUD1 settlement statement, enter the $50k purchase price on line 101 as the "contract sales price", enter the $15k on line 103 as "settlement charges to buyer", and the total of $65k on line 120 as "gross amount due from buyer"4) the property gets rehabbed and the contractor gets paid through the escrow as the work is completed.5) get a tenant placed in the property after rehab is completed6) get financing on your property for the lesser of a) 75% of the ARV which is $67,500 or b) the "gross amount due from buyer" per line 120 on the HUD1 settlement statement which is $65k7) so overall, you get your $65k cash back out through a mortgage that is based on the "gross amount due from buyer" per line 120 on the HUD1 settlement statement8) you now have a rental property with a tenant paying your monthly mortgage and you essentially have no money left in the deal@Andrew Postell I read your other post, which was fantastic.

One the 23rd of each month I go in and invoice all of the tenants (I have an 8-plex), which is directly sent to their email.

I mean we are more due for one but dang 2016 to now has been CRAZY returns.

A copy of that lease is sent to the non-profit along with an invoice for that tenant...

If they do a service for you, they would invoice you, you would pay, get a receipt and vice-versa.

This will protect you from liens on your property should the contractor produce an invoice for additional work that you didn't sign off on/agree to.

Not wanting to repeat, I mailed them an invoice for the cash payment, stating that from now on rent payments would be done through the Cozy system, which I think is an easy interface to use for both parties.

Be that as it may, use any dang number the tenant wants.

Dang really?