As best I can tell they give grants to non profits in the form of property and cash but i'm not really clear.Anyone heard of this before?

I'll do a quick calculation to see if the property is going to be worth going to look at using estimates for rehab.Calculation:Rental rateminustaxes: this will be on crsdata Ins: I usually calculate $1000-1100 for the yearMisc: 10% of rental incomeProperty manager: 1/2 1st months rent plus 10% of the next 11 months usually comes out to 12%Exp:Rental income: $750(property management: $100)(Taxes estim $900/12: $75)(Insurance: 1100/12: 91.66)This is variable it could be lower(misc repairs in future: $75)= $408.34 per month profit or $4900 a yearThis is a great profit if you get a house rent ready under $20K.Thats a 24.5% Cap rate.

The numbers are true, made almost 50,000 profit on flips of my own with business partners.

Uh-oh.Seeing comps for the area at $450k, the lender didn’t see the how they could sell it for the profit needed to make it worthwhile.

I -might- purchase one with a VA loan, but that would cut down on profit margin, plus I hate that it adds its own funding fee.

Buy the property, rent it to her at a miniscule profit, she would split maintenance Costs 50-50 when they arise.

Had an inspector tell my contractor he was being hard on us because all we were going to do was sell the house for profit...it was our first house in a particular neighborhood and he had just been rehired so he was on a mission.

We don't have to make 30k in profit because we're planning on holding it for 2-4 years while we live in it.We're on a 203k loan (and we've talked to the listing agent and mortgage broker and both feel we can get the loan done before the sellers bank demands closing) and a 203k wants licensed contractors to do most of the work.So without further ado:Repairs Number of units CostDrywall repair 25/patch x 5 500Tiling in Kitchen 7/sq ft x 84 650Refrigerator 1 2500Dishwasher 1 500Granite counter tops 60/sq ft x 54 3200Oven 1 600Paving the driveway 75/# of square yards 2500Updating 2 bathrooms 2 2000New fencing 200 lin feet 1500New Carpet 400 sq ft 1500OR Hardwood floors 400 sq ft 3000Dumpster 1x2 500Landscaping 3 yards 1000Opening front porch windows300/window x 3 900stone walkway .05 x 5616 sq in 310Paint interior 1800 sq ft 500Labor .5 of total cost 10000 30160Offer on House 45000Rehab amount 30000Total loan amount – down payment 72375Closing costs 4300Down payment loan 2625Upfront Cash needed 6925Monthly payment ~550/monthDo those numbers look anything close to realistic?

One word is usually better to tie things together, while it could be BRENNAN PROPERTIES LLC, dba "BRENNAN"How are contracts going to be printed up, filled in, you'll have a ton of paper work and signatures, you can shorten things with the DBA and LLC.I get a laugh out of very small companies with implications of being some mega structure, thanks for not going there like Brennan American Enterprises.... :)I suggest you keep it simple, say what it is, and make it easy to say and write!

Yes there are times when paying market price can be profitable especially for fixer uppers.