@Ryan Carr  I would furnish just like you would an AirBnb property.

@Carrie Herring why wouldn’t you fix it and run an AirBnB out of it?

It was a seller finance 4plex deal with similar terms as an FHA loan (that was the basis of the seller carry negotiation) and they made 10X on their investment.

One company owns everything and does nothing (this is your SLLC a/k/a “asset holding company”) and a completely separate company handles all of your operations (this is a traditional LLC a/k/a “operating company”) For the operating company which serves as your face to the world and through which you do all your business, you establish a Traditional LLC to carry out the operations of your investments.

I would figure another $15K-$20K for carrying (taxes, interest) and closing costs, excluding sales commissions.I know this is dependent on the individual but what is your hurdle return on a standard fix and flip?

Do you have the required funds on hand or with a seller carry to take to the closing table?

Whether it is the subject of "$30,000" houses or "Cap Rates" or even "Owning Class D properties where you have to carry to collect rents!" 

You should also consider that a lender will only give you a loan that is worth a percentage of the property and second mortgages carry high interest rates and even higher ones for second mortgages on investment properties, and if you will be able to make these payments each month.

Scrub the fireplace black ash. 

We also have to carry certain amount of insurance both GL and errors and omissions insurance.. basically if we mess up its our fault.