Many investors wrongfully assume ARV means paint and flooring, but it also means brings HVAC/mechanical, plumbing, and electrical up to current standards.

I put a $300 per unit buffer in cash, and a large expense buffer that is currently invested with life insurance that i can borrow against if anything ever hits the fan.

Make sure you're not hitting utility lines underground...get a few quotes from framers...

Here's was my Pre-Purchase Checklist when I first started:Upon Contract AcceptanceEnsure Access to Property: * Make Copy of Property Key(s) * Purchase New Lockbox * Place Key(s) in Lockbox and Install at Property (hidden)If Certified Funds are Required for EM: * Get Certified Funds for EM from Bank * Submit Certified Funds to AgentIf Financing the Purchase: * Send Contract to Loan Officer * Provide Loan Officer Property Info * Connect Loan Officer with RE Agent Info * Have Loan Officer Schedule Appraisal * Make sure Loan Officer Knows Anticipated Closing DateDue DiligenceInspections: * Turn On Utilities for Inspection (water, gas, electric) * Schedule Termite Inspection * Schedule Property Inspection * Attend Inspection and Take Notes for “Scope of Work” * Get Final Inspection Report and Review for “Scope of Work” * Get Termite Letter/Pest Inspection ReportContractor Prep: * Create Scope of Work * Create Materials List * Determine Which Contractors Are Needed: * GC * HVAC * Roofer * Electrician * Plumber * Pest/Termite Control * Painter * Landscaper * Carpenter * Schedule GC Walk-Through(s) * Get Contractor QuotesPurchase Decision: * Perform Final Financial Analysis Using Estimates/Quotes * Perform Both Flip and Rental Analysis * Make Go/No-Go Decision on PurchaseUpon Contingency FinalizationFinal Purchase Prep: * Get Closing Date from Lender/Agent * Arrange Landlord Insurance Policy * If Financing, Connect Insurance Agent with Loan Officer * Follow-Up on Appraisal with Lender * Choose a General Contractor * Choose Sub-Contractors (if no GC) * Determine Exit Strategy * Create Rehab Schedule (if no GC) * Create Final BudgetPrior to ClosingFinal Loan and Closing Prep: * Obtain and Review HUD-1 * Obtain and Review GFE (if financing) * Ensure Loan is Ready for Closing (if financing) * Get Certified Funds for Closing * Determine How to Hold Title * Get Partnership Agreement Documents Signed (if partnering)Upon ClosingDay of Closing: * Get Keys * Change Property Tax Records to Home Address * Get GC and Sub Contracts/Docs Signed * Arrange GC and Sub Start Dates

Once fixed up and remodeled, it will be a 3bed/2bath 1712 sq ft.Major improvements include; replaceing interior doors and two entry doors, flooring thoughout house (carpet/tile), ceiling light/fan fixtures,basement(all), new electrical panel,countertops, windows, and paint.

You took such a big hit in that deal.

If we decide to sell it at some point, I know that if we lived in it 2 of the last 5 years we don't get hit with capital gains.

Just hit some bumps in the road, and curious what your day is like, what do I have to look forward to, what can take from what you all share and apply to my own daily planner...

The worker was oblivious of his looming problem until his back hit the wall 30 seconds later.

I have hit 6 figures of income from poker playing over the last couple of years but that has slowed down with current poker legislation affecting online play and time commitments at the hospital.