We went way over our expected budget - by far our worse budget miss ever (remarkably we were only 0.5 week over our 2 month timeline).Using my rule, take the estimates and double them then add for lost occupancy and that is what I would be seeking or the owner have the work done using licensed contractors and do the work, take the risks, and suffer the vacancy costs.If you purchase having to do the work and your appraisal can handle it, the credit at closing is superior to price discount.  

Overall, I am looking to seek connections and resources to learn as much as possible about real estate investing and grow my network in the area.I look forward to connecting!

Hey BP Fans - I've never posted in Forums before but I enjoy reading some of the content. I've been listening to BP for a few years now and I dove in with everything I had! I'm out here taking risks and learning HARD ...

Readers should seek professional advice.

Hi All, This is my first post. My best friend who is a avid BP member suggested to reach out here for help. So here it goes....I bought first single family home (2000sqft) 2 yrs ago in Cedar Park, TX area during peak ...

I highly recommend seeking legal counsel to get advice on the best next steps.

Your question involves legal issues, so you should seek legal advice.

Additionally, negotiating with hard money lenders for better terms or seeking out smaller, local lenders could also help.

Try to see the big picture when getting started - maybe seeking private / hard money to get in to the deals where there is more profit potential could benefit you.

If you have multiple rentals, you may need to seek recovery in the aggregate and then decide your priority of restoration.This is a bad day, but statistically, you're good for another 100 years, no matter what "expert" pipes up with his uneducated opinion.