As people with higher income move out of an area, those left behind will, on average, have lower incomes.

I watch a lot of flip shows and it seems that they are quoted a lot lower. 

If it is a grey area pay someone (through the llc) to do it and avoid the stress. 

You still can have cash by borrowing private money  don't stress over tying up your money in a deal if it is too good to pass up

I'd also stress test with a similar (or more) drop in cashflow.Pundits have said for years that LA is done, finished, down and out.

Thanks Jerryll Noorden So essentially you’re getting money back from the contractor for work he didn’t perform, so your rehab costs will be lower than the $120k and actually closer to $95k once you get that money back?

Stress can be a killer and when you add loans on top of credit cards, it can all catch up with people in real estate.

So going PM may just help and keep stress down with managing.

I look at it as a blessing now, I was able to find a good contractor to finish the job (my timeline was delayed about three months) without the stress of having to be in on such a tight schedule I did a lot more of the work I was hoping to defer.

What is higher or lower on yours?