Lending in commercial (5 or more units) MF is very tight during this time; 25-30% down, 12+ months reserves, track record, net worth equal to loan amount, first born etc.

@Remi Nguyen, would you be willing to say with this contractor/company was so others don’t fall into this trap? 

A dripping P-trap might be a $10 part but the rotted cabinet plus install can end up being several hundred dollars. 

Might allow for a little more flexibility to stand up and talk with others and avoid the trap of sitting at a table and never getting to talk to those at the other end. 

Born with a brain is free!

Born and raised in Farmington Hills, live and invest in SoCal now.

This "wisdom' was acquired by making mistakes, some of which were costly, and most of which were born of trusting the wrong people and just following what I thought were the best numbers.Again, I really like your methodology!

I tend to be a conservative estimator though and I need some thoughts on if I should dive into a deal I am working on or if its a trap worth avoiding.The house: I am looking into buying my first rental that is a multi-family home with 3 units and only needs minimal cosmetic rehab.  

Or maybe I should hope you haven't got that figured out, because then you won't trap yourself in this potential disaster of a deal. 

I was born and raised in Cedar Rapids, Iowa.