When addressing dirt and damages, deduct reasonable cleaning costs and expenses for furniture repairs or replacements from the tenant's security deposit based on fair estimates and proper documentation.

I say new construction because based on your description, the JHA is treating the project as new due to the scope, existing condition and no pre-existing nonconformance items remaining in place.

Youtube, mentors and podcast are the best for knowledge, once you have a decent base taking the first step will teach you the most.

Here is the RENTAL REPORT based on renting 3 units out and living in one of them.Challenges:Qualifying for the necessary loan.Ensuring a profitable return for my grandparents.Request for Advice:Feasibility of the project from an investment perspective.Suggestions on managing the financial aspects, especially regarding the loan.Any similar experiences or insights would be incredibly helpful.I'm already in discussions with lenders, accountants, and realtors who see potential in this project.

Our strategy is to buy and sell once the builder completes selling all the houses in the community.The base price of the house they're selling is $420K, but the model house, with all upgrades, is priced at $450K.

Can the appraiser appointed by the FHA Lender assess the rental income based on the units post renovation.

Hey @Harry Maxtens, Never base your numbers on Zillow ESTIMATE...

I thought when it fails it will be a good base for peel-n-stick. 

There are lenders that will do a cash out refinance based on your purchase price and receipts at 3 months.

I think syndications offer good opportunities for those who want to diversify, but I wouldn't start there if you are building a financial base.