I couldn't upload any more images, just imagine burned areas, disgusting bathrooms, drug paraphernalia, dog poop, toilets overflowing with rotten food and poop, it was disgusting, outside of the house there were shopping carts full of stuff over grown grass and weeds.

A light renovation requires less specificity than a new construction build, and you'll have to gauge that accordingly, but you should err on the side of being more specific rather than less.Lastly, regarding materials purchases, you should NEVER let a contractor choose, purchase or pay for any finish materials or important elements like appliances, sinks, toilets, bathtubs, counters, cabinets, trim, doors, windows, or even things like paint and stain or varnish.

For example, a toilet would be 150 but then you need a professional to install the toilet.

But...when I am not absolutely 100% positive about a deal I am not going to cross my fingers, pray and hope the deal pans out because the chances are it will not pan out and if it does then we are investing based on hope and not good business practices.Hold onto your money until a deal comes that is so sweet you can't let pass, but don't listen to advice from even your own broker when it comes to what is good to invest in because nobody on either side of the deal represents you and as far as brokers are concerned they only show you what is on the market and tell you every property is good for you as long as you are willing to purchase them.The profit from real estate investing is earned the day you close the property.

Host fees (if listing with Airbnb, VRBO, etc), regular advertising fees, STR permit fees, utilities, cleaning, TV/Cable/entertainment, internet, basic toilet/cooking supplies, wear and tear on furniture, a security system, landscaping/lawn care, snow removal, trash removal, pool/hot tub care, propane for gilling/fire pits, and others depending on what amenities you may want to offer.  

Look to limited partnerships in developments, you can have a passive position.I didn't read all the posts so I don't know your level of financial capacity to enter the lending side, but that was much better than swinging a paint brush or cleaning toilets!

I actually have a plumbing job coming up near the end of this year on Capital Dr. if everything pans out.Thanks again for the excellent break down.

If a toilet backs up and pours onto the floor, it probably requires attention immediately.You can set up a Google voice for all communication, then program it to only take messages.

A FOOL'S GAME.MikeOH wrote; Throughout the United States, operating expenses run 45% to 50% of the gross rentsTrust those numbers, do not think, "oh, these are newer 'well constructed' houses, we don't have the harsh winters" or any of the other rationalizations that will put you in the toilet 5 years down the road.

Those cleaners in your case were being generous by also snaking the toilets.