We are evaluating a proposal from them to build a 4-unit condo.Thanks,Dan

@Roy N.Roy, thx for the tip on TD and BMO Harris. i will try them tomorrow as well .Guy's, I will update my progress and hopefully its good news

I'm going to update this log monthly with my progress towards 250 3 bed 2 bath single family homes!

Typically when we are evaluating income, expenses and debt service are we taking these steps to verify this data after we have the property under contract from the seller with our earnest money up?

I am curious for any pointers on how to evaluate a foreclosed home for a "live and flip."

You might give them a short exclusive and then see what progress they are making for an additional extension on the exclusive.

Knowing there is a third party tracking progress and providing reports can make a world of difference between projects getting completed and people getting fleeced. 

Never purchase a property and expect any value that you have not personally reviewed, investigated and most likely, hired representation to evaluate.

I would invest more time upfront in analytics to evaluate deals however.

(Background: i am evaluating whether to keep as rental or sell as i will have to pay capital gains if i keep it after August - when my capital gains exclusion expires)Cash Flow = Income - ExpensesExpenses = Mortgage, Taxes, Insurance, Maintenance, Fees (e.g.