There was a "Grant" component to the EIDL loan which is just free $ but the actual loan is not forgivable from what I can see.  

The amount I will contribute will be way under $18k, so I only have to use the employee contribution component.  

That being said, I know Joe pretty well and have done deals with his company and if he did say that on one of his podcasts maybe the actual intention was to say that they offer 18% avg annual returns which is something that makes more sense.In any case, here are the numbers that our operating partners are currently achieving, and what you should expect from serious operators that are playing in the Class C+,B+ stabilized multifamily with value-add components arena:- 1st year Cash-on-cash: 5-8%- Avg.

You might ask a realtor friend to run a quick CMA (comp) on the property.But, let's assume the tax appraisal is accurate.

Notes on Condition of Home and Building Components (e.g., age of roof, HVAC, water heater, and notes on renovation needs) 9.

To be specific, most guidelines call for the property to be in C4 condition with no issues with the 4 major components: roof, HVAC, electrical, and plumbing. 

The benefit here is two-fold: (a) it outlines all functions and components necessary to complete a site-built structure from the ground up; (b) you have a clear template for allocating responsibilities on rehabs.

As several people mentioned above, the only break ins I've had to deal with were people kicking in doors or breaking windows- locks are only one small component of security.

If you did a cost-segregation study, you could bonus depreciate the various components of the property like the fixtures and some improvements, etc. 

When it comes down to it, only take on those things you feel comfortable with approaching; yes, push your skills, but not at the detriment of losing any type of equity/value in your home upon rehab completion.