That varies by bank, but is pretty standard.

If so I wouldn't sweat it, maybe just deduct the cost of your visits for the estimates and research and return the rest.If your guys can't work and you're allowed to keep the deposit then use that to pay your crew and find something for them to do while you line up the next job.

I just purchased a duplex in union grove wisconsin and I need some contractors to help me renovate it to my standards before I rent it.

rule if you do not have the property under contact do not call a contractor out for a bid if you are just tying to put your # to submit with out offer him money for his gas and time to work up a bid for you mate 75 to 100 is standard in the Dc md va area, if we have a relationship no cost .

In the suburbs, it is mostly just the PA standard 2%. 

I invested only in equity deals with Acquire Real Estate, my thought process was that I get the income tax deductions for the term of the deal, although I will have to pay it at the end when equity is paid.  

Accordingly, you will get all the deductions that are provided to someone who holds rental property, including depereciation, taxes, insurance, etc. 

@THU NGUYEN out of curiosity since I am still learning and trying to master how to calculate cash flow on properties, is this $1,600 with all expenses deducted?

A 5% return is not overly aggressive and assuming I am earning more than I need that number can fluctuate without effecting my standard of living.I personally only need a conservative 2M which I already have.

Remember also to deduct income taxes (unless it's a Roth IRA), property taxes and everything else which saps your funds before you actually get them.