A lot of cost seg firms have popped up over the last 5 years and you need to ask yourself if I am audited 5-10 years down the line, will they still be around to defend me?

Whatever you estimate isn't likely to be the final cost as there is always something that pops up or changes during a rehab in one way or another.

You want the photos to pop, grab the attention of someone scrolling through them, and really showcase how beautiful your investment is.

You want the photos to pop, grab the attention of someone scrolling through them, and really showcase how beautiful your investment is.

You want the photos to pop, grab the attention of someone scrolling through them, and really showcase how beautiful your investment is.

You want the photos to pop, grab the attention of someone scrolling through them, and really showcase how beautiful your investment is.

What you do not want to do is study for years and then do nothing because you are on to the next interesting thing that pops up.

For the Syndicator here is what happened.. they were buying existing buildings with the idea of value add.. well being Texas at that time it was very easy for new construction to pop up virtually right next to you or close.. then you had the new construction offering move in bonus's and people just kept leaving their older buildings before they could get to value add.. and their vacancy rates shot up to unsustainable.. and they no longer could debt service and or broke lender covenants and the foreclosures started.  

Properties run by mom and pop with low rents and some deferred maintenance are my favorite!

I don't see the bank selling you the note. yeah, back in the day, maybe, for mom and pop servicers.