He has given me a line item quote that includes phasing, budget for materials, etc.

Hi I'm a GC and I use two programs on for bidding which is Joist you can itemize and create individual line items for clients, track expenses and sync to quickbooks (QB accounting software, and Buildertrend which I use for project management, gamut view schedules, payments, and gives access to my clients job progress you can upload photos there everything,  once job has been sold this also syncs to QB. 

Thank you.Get down to brass tacks: Your investment model does not account for the line item expense increases you are seeing.

And while rents have increased since the fires, they are still relatively low compared to purchase costs and debt servicing at today's rates.Now, currently legislation proposals on SALT limits may change the math if you fall into the itemized tax deduction category, but that shouldn't be a deciding factor. 

One thought: why couldn't the PM keep the funds in a high yield savings account and then buy the boats or nice items?

I stick to light to medium rehabs, so I stay away from anything that requires replacing plumbing or electrical components due to the associated costs and the need to closely monitor those items, as I have been burned in the past. 

The first lie, that rent control is a NEED item. 

It is an item that takes months, but still far better then a decade of foreclosure on record. 

What are the consequences of failing to disclose items such as unpermitted additions in a property disclosure agreement?

Send the son a copy of the court judgement, if available, and an itemized list of money owed.