I was in industrial sales, in TX during the late '70s and '80s boom.

Typically what you see is:5-10% of gross rents collected (some set minimums in addition)50-100% of 1st month's rent for getting a vacant unit rented plus advertising (high in my book)50% of 1 months rent for lease renewal (complete rip off)Some will take a portion of late fees (bad)Many will charge you hundreds of dollars to handle evictions (even though they do nothing but call the lawyer who handles it all)Typically, they also charge $25+ per hour for handyman (who they likely pay WAY LESS)The fees are never-ending.

In the 'lease' part of the contract, spell out what happens if the payments are late.1) Payment is due the first of the month.2) Day 2 - Day 5 I'll need a cashier's check.3) Day 6 - Start boxing up your things...I have kids. you, mr. buyer, might have kids as well, but, no offense, I like my kids better than I like your kids.

Once you are finished with the rehab, put together a simple itemized final report of everything done to the property and what it costs.

Built in late 60's, early 70's.

i have a house in indy and one in cincy, just finished rehabbing.jim

First i would think about what it will take cost and labor to strip/patch/sand,stain and finish the floors stripper and sanding pads will add up unless its an exotic wood, I personaly would simply lay new hardwood or laminate flooring down you can find all styles sizes colors types of wood and most are prefinished and are extremly easy to instiall, some are glueless and nailess.

I'm curious to understand the differences between pre-development and pre-construction investing---PCI was all the rage during the boom in places like FL---early adapters made money and the late comers took a bath...Regards,Scott Miller

then refi (once finished) to include all closing costs, points etc. regardless of whether it's a home owner loan or an investor refi.Regardless of the loans made, points etc. were always rolled into the loan over the past 15 years at least.

So far the tenants have been paying the rent, sometimes a week late and no major repair issues.