Short term it is difficult to make the numbers work, the cost of new construction and the time it takes to zone-plan-build are usually the main reasons why private investors stay clear.

Post insolvency, the framework allows an assessment to all private insurers operating in the state to cover the difference which will subsequently pass the costs along to policy holders.

The police love to claim it's a "civil matter" so they won't have to spend time and energy on it. 

And as far as legal—an attorney becomes essential once you're ready to finalize terms with either an HML or private lender to make sure everything’s secure.Hope this helps!

If you are reinvesting it (highly unlikely), the time you are spending doing the work could be put to much better use. 

Depending on your income needs, pulling equity out and lending privately combined with a fulltime or part time job may be another option that doesnt bring as much boom or bust risk as flipping. 

There is only 1 guarantee when you buy a property - you are about to spend a pile of money.

Don't spend 20k+ rewiring a whole house that is insanely expensive. 

I took a small private loan and bought my first home.

Purchase price: $545,000 Cash invested: $545,000 New Construction Duplex - Beautiful Design and very nice curb appeal. 3 bedrooms 4 bathroom - All bedrooms have private bathrooms.