It was a hard lesson that nearly cost us a $25,000 deal, countless hours of effort, and more sleepless nights than I’d care to admit.We had a prime deal lined up, with a buyer who was eager to move forward.

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

No cleaning crew is perfect, and there will be guests that move dressers to find a spec of dust and complain, thats part of the customer service business we're in.

This way, all income and expenses related to the cottage can be run through the new LLC and its corresponding bank account.Additionally, make sure that you’re not mixing or commingling any personal transactions with your business transactions or transactions between the different properties to maintain clear separation and avoid potential issues.

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

Over 60k profit MarginHow did you find this deal and how did you negotiate it?

I know that most people say to have everything fixed before the closing date, but if it is in writing and signed prior to closing, is it that big of a deal?

We are property owners that went into an owner financing situation on a deal with a buyer.

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

There are lenders that will finance newbies, even at 100% of the purchase & rehab, but if the numbers do not make sense, the chances of that deal getting to the table are thin (especially if the lender wants to help borrowers succeed, not help them fail).The lender's underwriter looks at every deal, but especially the lesser experienced operator's deal to determine what is exposed vs what is the return.