Of course not everybody agrees with this strategy because of the potential of loosing good guests to a lower price.

You will loose some money to financing costs, but that is how it is done. 

About the property:3 bed, 2bath, 1700sq ft single family Tudor Style home w/ attached 2car garage on 1.5 acres with 150ft of lake front on a small no-wake lakeIt has been gutted to the studs with electrical and plumbing rough-ins approved by the county, new windows, and new roof (2yrs)Purchase price: $90k (cash)Estimated rehab: $135k (will be walking through with contractors in a few days to get multiple bids)ARV: $260-275kDepending on the actual total investment and ARV, we plan to either flip it or BRRRR as a short-term rental (with small estate wedding venue potential) If a flip, I would like to see $40k+ but I am ok with this not being a home run being my first one, mostly want to learn and not loose my behind!

I have asked this question to a couple of the bigger banks when I first started looking at mortgages, and it seems like there is a loosely enforced 1 year mark between owner occupied.

We've spotted numerous soft spots, flashing issues, holes, missing ridge caps, cracked/loose vents, and cracked/missing pipe boots.

But do your Homework before investing because if not you can loose your money in seconds.

Now for the final touches and loose ends...And yes of course I practice what I preach.The first thing I did was print business cards and put my logo everywhere.You need to look the part to sell anyone the part.Now take the following extremely seriously because EVERYONE has this part wrong!

I recognized I was taking a risk and was willing to loose the money I invested but did not was a catastrophe to affect everything else's I have accumulated.

(What I like about that approach is that they can do things the way to tell them; with a pro PM firm you loose some control over the process.)

Hello , please tell me what does the law, if any, say , or is it any "custom" about it .I am renting condominium out in SoCa , and having a tenant for almost 2.5 years now .I pay for all repairs without problem for him , but now he wants to have place fresh painted , inside .I can not see how bad it is , because I am abroad , however place was freshlypainted when he moved in .I do not want to loose a tenant , but paying right now maybe thousands for painting seems to be unfair .