As a rule of thumb, water that has sat over 7 days (and is still wet), regardless of source, is treated as category 3.

I am working on purchasing my first rehab but I still also have a full time job which would restrict me from be able to stop by a couple of times a day... just curiousThanks!

One job is the most economical, as a rule.

A good rule for life is to assume that everyone is out for himself.

For fix and flips, that's based on the price you can get after the fixup, so apply the (70% of ARV) - rehab cost rule of thumb.

I don't know if you've got really screwy insurance rules in MI, or what your net worth is, but reading your post you are WAY OVERINSURED.

The Planning and Zoning Dept should be able to answer or direct all your questions appropriately with regards to their rules and regulations.

Using the 50% for expenses rule of thumb (read in the landlording forums), that says you need rent of $3150 to be breaking even.

So, if it is "OK" for the government to ABANDON "ethical" principles of finance, and it is "OK" for Business (Corporations, etc, both small and large) to ABANDON ethical" principles of finance, then how can you possibly expect the individual "consumer" to play by rules which ALL FORMS OF BUSINESS are discarding in droves, in favor of the loopholes provided by government?

I am starting to see distressed condos listed retail, in incredible neighborhoods, with good schools, that would rent at break even (paying retail) using the 50% rule.