You can also find Stroud Supply out in Lexington/Two Notch area but they don't always have everything in stock.

I did about $15k in reno myself. just a hot market and the time value of real estate, supply and demand etc. 

The lender's primary interest was definitely whether the first lien note would be <1.2x covered, but the global DSCR has potential to be razor thin if you leverage an additional 25% of the purchase price on top of that.For the particular deal that prompted the construction of this model, I obtain a global DSCR of around 1.2x using extremely pessimistic modeling assumptions (including 3rd party management).

The less desirable the location the better the terms a tenant can negotiate.It’s all about location, supply and demand

It was tough to find a decent one that wasn't in a terrible neighborhood as supply is low.

Eventually, supply will catch up to demand, and occupancy will normalize. 

Maybe under the “supplies” section?

One must consider the amount of demand +, the amount of supply entering the market +, the fact that rent control severely restricts inventory turnover of existing stock +,  drives away developers who do not want to be in California due to rent control.

He is fronting the costs of the labor and supplies, and pitching in on 5% of the down payment and closing costs, with what we have estimated the rehab to cost.

Don't forget about supplies.