Vacancy/turnover is very costly.

What are other questions we should discuss in advance.any advise, any sample document.Thanks look at 10 joint venture deals before you do one. talk to others in other markets. if he isn't smart enough to negotiate capital or JV deals or structured finance I wouldn't touch him. every cost should be fully transparent with their margin. similar structures with investors in columbus we are the general and everything is negotiable. he should also be qualified talk to a bank first. we take title in a single purpose entity we are the LP less than 20% and the qualifier and the main investor puts the cash and gets the loan, I'm also licensed and normally sell to out of state investors. 

I need $33,500-$40,000 to complete the rehab including cost of permits, labor, and materials.

There is more upfront cost, but if your vacancy is low, then you can have significantly more income over time. 

Another investor of ours wanted to grow their portfolio and their goal was to diversify out of the west cost.

I know personal letters would take more time and cost more money, but I would rather send out less of higher quality then more at lower quality.Having said all of that I would recommend that you tell everyone you interact with that you are a real estate investor and tell them what kind of properties you buy.

Hi Sam,Would you be willing to share details/costs on the machines and system you went with in the end?

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Would we be able to pocket the buyer commission to remedy the final sales price or closing costs?

Most of the properties I have available are $300,000-700,000; so if a hard money lender requires 25% down, with closing costs of 1-2%, and the hard money lender wants $20,000 in reserves, plus 1% to the hard money lender, we're looking at anywhere between $104,000 to $216,000 out of pocket costs.