When accounting for capex I would allocate an extra 1500 for maintenance FOR A PROPERTY THAT WAS NOT A FIXER UPPER WITH A GOOD HOME INSPECTION OR A RENOVATION WITH QUALITY PROJECT MANAGEMENT. 

And that should leave me with an extra 35 left over in home equity loan.

I might suggest putting extra effort into understanding all the terminology as there can be several different names for the same thing so it helps to have those understood well.

As Robert said above it may be cheaper to pay for extra coverage on you insurance policy instead of adding an umbrella.

I did have to deposit enough extra for the interest and walked out the door.

We are now one week into the rehab as I type this.Current BRRR Numbers:Pre-closing Costs: $2,740Plumbing inspection (because the house needed to be dewinterized, $150)Home inspection ($525)Appraisal ($655)Electrical inspection (because power was off on the day of the appraisal, $150)CO and Smoke Alarm ($366.57)CO and Smoke inspection ($52.50)Rehab consultant ($840)Kitchen Appliances: $2,000 (estimated)Plumbing: $7,300 (estimated)Oil tank ($1,800)Water heater ($1,000)Chimney liner ($2,000)Re-piping as needed ($2,500)General Contractor: $32,000Roof replacementDrywall patching and painting of entire house (trim, wall, ceilings)2nd floor bathroom spruce-upClosing exterior door in master bedroom and finish sidingBuilding two closets in two bedroomsBroken window repairsWindow frame repairsScrape and paint area over bulkheadFinish floorsRemove and dispose drywall from basement spacesRear deck repairFront steps repairInstall handrail to basementFoundation masonry repair and paintingRepair cement stepPatch area of exterior trim near kitchenPatch two rotted window sillsCap extra basement doorFill in dining room windowAsbestos: $1,500Electrical: $2,000 (estimated)Closing Costs: $3,733Home Purchase Price: $149,000Total All In: $200,472Expected ARV = $250,000 (initial appraisal for rehab loan came in at $235,000)Amount I have invested in the deal = $50,000Expected Cash Out at 80% = $50,000The situation is still very fluid, as we still have at least three more weeks of the rehab in front of us, but the numbers thus far are still looking promising, despite all of the surprises.

I always strive to throw as many extras in my cabins as possible to try and rise above the average.It could be that your customer just likes the idea of having their own cabin in the smokys and just wants to have someone else manage it to help "offset" their costs while not using it.

@Tehane GallimoreIll wash my apartment extra thorough after I have my guests from NYC, California, and China.

@Christopher Stafford I would be extra careful in the Minot area.

The wife and I have decided real estate is where we want our money to go so we can not only have a little extra but also so we have something to leave our little one.