Reason is you will get to depreciate the property on the steped up basis. 

The reason to be selective with realtors for flips is they can give you a good idea of what the after renovation value will be.

I was hoping you'd chime in.The additional reason 3) costs so much is because (according to the engineer), in order for it to be code compliant I will need to add an additional bracing wall underneath the house parallel the short side.

I found this to be helpful in the beginning, hopefully you will aswell ...acceleration clauseA clause in your mortgage which allows the lender to demand payment of the outstanding loan balance for various reasons.

Questions:-Is this a fair and simple structure - Do these plans usually balloon after a given term (ie 5 years)- Are we within reason to charge an acquisition fee and ongoing asset mgmt fee?

The reason being there is not really a "margin of safety" of only $40,000.   

They met with numerous others including PM companies.

What are some ideas for tapping into that -- which would include reasonable terms (not interested in hard money, e.g.)?

Any reason in particular?

Main reason he reached out to me to sell the property was because HomeUnion was exiting the property management business.