Unit is a 1 bedroom condo unit in an older apartment building that shows poorly and needs electrical, new kitchen, water heater.

You can setup categories, create users with different permissions, etc.When you start a flip you 1: setup a new account 2: create categories (ie, kitchen, bath, plumbing, landscaping, etc, etc) 3: as you make purchases take pictures of the receipts via the phone app and choose the category 4: via the web browser (computer) portal you the administrator can go through and verify all the incoming receipts 5: then you can create reports showing who's spending how much on what very easily”

I had a commercial loan with them at one time, real good guy.

You could do an installment contract with a change to the default provisions and perhaps having options with foreclosure, but doing that, you might as well do a note and deed of trust or mortgage.Deals to the poor in C areas will probably lead to problems, there is a crack down on predatory lending regardless of what the deal is with small borrowers.Most any installment deal that was done 3 years ago is most likely illegal now if the laws apply to that borrower or property, much less the deals done by old timers that have been done for decades, those are pretty much out the window.

It is different in the fact it operates more like a long term hostel, so because its so different then anythinig around it, it has been on the market almost 2 years (which is unheard of here).It shows a cashflow of $1000-$1500 a month.It was built in 1948, and the current owner appears to have kept it up, but is just tired of it since he lives 1 1/2 hrs away (one way).It is a 10 bedroom, with 2 shared kitchens and a common room.Realtor thinks he would take $280000, and may owner finance.I am interested in this one, but wanted some feedback.Thanks,Mike

I used these Armstrong peel and stick squares at $.75/sq ft from Home Depot in a small kitchen and bath.

I found this property on loopnet.com but it seems too good to be true:5-unit property for sale $369,000 (7,000 sq ft - 1400 sq ft each unit)3 BR / 2 BATH APARTMENTS; LIVING / FAMILY ROOM, KITCHEN; DINETTE WASHER DRYER HOOK UPS; CENTRAL AIR & HEAT2012 GROSS INCOME: $55300*/NET INCOME: $41298Note:Gross income includes $900 month for apartment # 520 which is currently occupied by manager (manages several complexes for owner) for which currently no rent is paid.

Kitchen and bathroom refit also required.

They may also want to lower the upper cabinets in the kitchen to make the more reachable.

We are removing/reworking a shared wall between the kitchen and living room.