I'd love to see the numbers on this property and what your estimated profit will be. 

I fielded estimates from other contractors, but this guy was from a reputable company with good reviews and I decided to trust him. 

I went under contract back in June of 2021, with an estimated completion date of January 2022.

We are estimating about $60,000 to be used in the 1031 exchange.

City road ends at park entrance.Considering the land price, infrastructure setup cost each lot cost was coming around $7300 which was very attractive even though most of the houses on them were old and needed good repairs.All other lots except the 59 were in considerable good condition and our due diligence showed that whole park value is going down due to these 59 lots mismanagement for 40 years.As per owner rent collections were around $7200 per month and most of the tenants were very long term (average rent $400 per home) which he receives in cash so bank rolls available to validate.As per our estimate, each house needed 7k to 8k repair to make it livable.Negatives:These homes/lots were owned by same owner for 40 years and he neglected everything which includes tenant quality, infrastructure (such as overgrown trees, bad homes still in the park which should have been removed years back, 3ft- 4ft potholes on the road since its privately owned).Most of the tenants were convicted or had some big felony, these houses were famous for drugs cartels in whole city.After buying we realized things were way worse than what we assumed in due diligence:People staying there actually were involved in gang wars, prostitution, drugs etc.

Comps Average $/sqft x my properties sqft = ARV estimate 4).

Hi @Jordan Moguel - I think that it's important to have the loan officer analyze your income docs, credit and assets so that they can 1) figure out what you can qualify for and 2) put together a legitimate loan estimate for you.

If you send them the property, repair costs and estimated ARV they'll crunch their numbers and see if they can help.Thanks and best of luck! 

@Jeremy KerrProps for stepping out of your comfort zone.To be honest, your worth in this particular deal is whatever the experienced large scale investor thinks it is (assuming you have no finder’s fee written contract in place.)Ballpark estimate in my opinion is that finding the deal might be worth 5% to 10% of the deal pending structure of the deal.If the large scale investor is a person of character and integrity, he should provide some form of compensation given your relationship with this person.My suggestion would be to not focus on the compensation per se but try to learn as much as you can from this person during the evaluation of the deal.

Hello all, we recently received a new estimate from our GC on a flip property in San Antonio and the new estimate is about 50% higher than their initial one (the one prior to buying the home from the wholesaler to flip/receiving hard $$, etc).