The house has appraised for $335k, my hard money note is for $242k, and I'm looking at only about $15k out once closing costs, taxes, and insurance are accounted for.

Completely eliminated noise complaints from the lower level and reduced utility costs.

This can often be cost-prohibitive. 

@Karolina Powell I am seeing 6.75% with 1.5 points with putting 20% down. 25% down gets you down to 6.49% with similar cost. 

Multiple people including myself have tried to caution him of the the true costs but he's been repeatedly dismissive and has made it clear we give him motivation and he wants to prove us all wrong (whatever that means). 

More work, more time but you can take advantage of a nice cost segregation / bonus depreciationThis is the truth! 

For calculating IRR, use the total cost of acquisition—this would be the mortgage balance plus the 50% buyout equity and any closing costs.Regarding refinancing, assuming the loan under the Garn-St.

How are you planning to fund the rehab costs?

Sorry one additional item I hit post too soon...The reason I asked about TIA is because you generally want to get a contractors opinion of cost prior to lease during that negotiating phase so you know how much that TIA covers and what you'll be coming out of pocket for.  

Hey Cameron, for experienced investors I can lend up to 100% of the purchase and rehab costs on 1-4 unit properties.