Last night, I learned that there's a problem with the home: during the inspection, six gas leaks were identified, and repairing them will cost approximately $7,500 in labor and materials.

Labor shortages and increasing material costs are increasing construction costs for fix-and-flip investors.

You will constantly hear of  shortcuts during construction and the conscientious decision to use lower quality materials during the renovation. 

At least 10k, they have to buy materials and pay labor. 

We do not personally go after tenants, because we are not attorneys, but we have attorneys on retainer and ready referrals who've done-that and been-there, so it's a quick simple hand-off. 

Its not unusual that your insurance premium jumped, but I’m wondering if the jump was so drastic only because you switched to a landlord policy, or if its because your insurance policy is renewing and taking into account increased costs of labor and materials.

Lenders often look for this when assessing the viability of construction projects, so it’s good to know if you have experience or a solid team in place.Are you looking to retain ownership after the build or sell the property?

That, a few podcasts, a few select books, and a couple of subscriptions choke full of info material (less than 100$/month), maybe a couple mentorship programs (for less than 2K/year), and a lot of action on your part and you'll be a lot better than paying $$K for "gurus".To rephrase, do you have more money than you know what to do with or an urgent need to get it to work for you, together with a lot of time on your hands ready to take massive action?

I believe my wife and I pass all the test under REPS and material participation.

I mean material as recently as late 2022 was totally off-base-- the real estate rookie bootcamp, you had porfer Morby on here, the Carl twins that promote STR as recession proof, the list goes on.