Also, for whatever reason I was a bit lax in my initial assessment on the amount of work needed at this house, so that went well over budget.

You'll be budgeted for a rehab in the coming years.

The rehab came within budget (~$7K)..

You are taking "action" which is the hardest thing for most people to do, so I commend you for that.If you have a limited marketing budget but have the time, driving for dollars can be a great strategy.

Now regarding our fee its paid as $11,900 down to retain us as project managers and the balance paid by the construction budget and closing over a year of supervising the build and then tenanting.

Paul Ryan (who represents my parents district where I grew up in suburban Milwaukee) attempts to come up with an actual budget for the first time in 20 years that tries to bring at least the start of some fiscal sanity to Washington, he's blasted by the Tea Party types.

The tires I put on my truck last weekend were more than that.

My name is Cristian and I live in Montreal, Canada where we currently have awesome -20C weather (I think that's like -4F)So a little about me - I started being interested in real estate investing after reading the Rich Dad, Poor Dad book which resulted in me going to one of their free seminars that resulted in going to the paid 3 day weekend that then resulted in taking their advanced training which I recently got refunded because I wasn't satisfied at allI then learned about a new program with ************* which I am currently following and seems ok for nowMy main issue is that I am full of a lot of book knowledge but close to zero real world experience short of calling a few agents, home owners and so on.I was let go from my job on October 10th because of budget cuts and have decided to go full time investor since thenI am ready to do whatever it takes to make this work because my mindset is already changed and going back to a job is now my ultimate last resort that barely has a shred of interest tied to itMy immediate goal is to buy myself more time - I am ultimately looking to replace my ex job income by the end of 2014 and then some - but for now I'm simply looking to close a few deals to buy more time financially speakingThat's it for me for now - hope to get a chance to speak to a lot of you and soak up all the information that I can while building some great relationships along the way :DCheers

I would budget another $500/month for that.With those numbers, I see your direct assumption of 1.1M in debt costing you alsmost $1000/month.At 650k you'll see about 2k/month in cash flow.

If you've already accounted for foundation issues and other larger items, which it looks like you have with a 40k rehab budget, there's less of an unknown.