:)-Alex K

And @Jim K. makes a good point, even ceramic tile with an expected long durable life can end with an actual lifespan of much less

And while I don’t have much experience with 203(k), I do have a lot of experience with hard-money lenders (HML).

@Steve K., it sounds like you have renovated some of your own units with existing tenants living in them.

@Randall K Compton yeah the idea is getting more cash out than you put into it - much like a Rental Property BRRRR.

Hey BP,
I have a SFH house in Berks county that I am currently looking at purchasing. After the property sustained a bit of damage while in contract, I am now in the process of negotiating a short with the bank. My ...

I have 7 rentals ( approx $175 K and primary residence about $280 K) = $1 million in capital (got stuck)  all from Philadelphia.

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I tried to see if this would work running the numbers with a deal I'm looking at.Purchase price: $82kARV: $134kDown payment at 25%: $20.5kLoan: $61.5K70% of ARV: 93.8KRehab budget: 93.8k - 82k = $11.8kCash out refinance for 80% of ARV = $107.2k$107-2.k - $61.5k of original loan = $45.7k cash outNew mortgage of $107.2k with $26.8k equityTotal cash in: $31.5kTotal cash out: $45.7kWould this work?

Hey @Brandon K Dickinson,I am a Licensed Architect in IL, IN, and TX based our of Chicago.