Better financing may change how it cashflows as well.

Hey @Joshua D.You need closing costs, so add 5% ($25,000)Needs repair costs (unless they're currently rented) add $39,000Unless you're taking over the loan, you'll need a down payment, change 0% to 25% ($125,000)15 year AM is fine, you could also do 30 yearsManagement is typically 8% of gross rents, so pretty goodThe Rent/Price ratio looks too good to be trueMost investors struggle to reach the 1 % rule in B class areas, and this is a 3% rule.

Here's what I do instead of rent credits, but gets the same end result:Assuming the entire rent credit would have been $2400, instead of giving the credit from the rent, just change the option price to $2400 less = $97,600. 

A 10% cash on cash ROI could be slashed with a single percentage increase in interest rate.Secondly any mortgage laws, requirements, etc. that may change or negatively affect your property can be mitigated.

I will try to get close to this strategy and change or remove any unnecessary expenses I have.

Change is constant and inevitable.  

I slowly began to re-seat myself back in my corporate role changing companies and being promoted providing that false security again. 

You never know what could happen, that way if necessary you can start the eviction process right away if they change their mind.

I believe it is time for you to make some definite changes if you are serious about investing in real estate.

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule: The program has a maximum 4 draw process.The initial draw can be up to 25% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information: Signed Draw Request by borrower and contractorSigned All Bills Paid Affidavit review and approve the draw request and will release funds for disbursementA check will be issued in the name of the borrower and contractor and delivered to borrower via USPSAn inspection of work to date will be performed at 50% completeChange Orders and Cost Overruns: Changes to the initial plan are not permitted unless prior approval.