Stop craving all the material things people crave and be satisfied with less.But that is not what you are asking.

It's also good to know that FHA just amended their guidelines so that lenders can supply contractors with up to 50% of the cost of the materials from the SOR to accommodate start-up costs, where previously contractors would have to use their own funds to float the startup of the project. 

I typically find that these guys are using terms like cap rate and NOI to make there deals seem that much better hoping that the people listening don't understand how they got to their numbers and take them at face value. they want people to pay for their training or system education materials. 

Material choices may be a little different, etc.

Maybe if you purchase the property 100% yourself, have him do all of the work, one of you pays for all of the materials and when it sells, you split profit 50/50.

Can a self storage facility owner/operator qualify as a real estate professional if it is their full time occupation, and meet the 750 hour material participation and greater than 500 hour rental real estate activity safe harbor rulse?

over enhanced could have save a few grand on rehab with using less high end material Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

over enhanced could have save a few grand on rehab with using less high end material Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you do it with permits, expensive material it will NOT be cheap.

I was cash flowing about $700/month and that includes my HELOC interest on the purchase price.Tenant moved out and we're investing around $6K (mostly materials, we're DIY) on new flooring for the living room, total repaint of the interior, and new kitchen cabinets.