You'll record the interest as an expense and the principal as a liability (see a CPA or bookkeeper for more details).If you are concerned about making interest payments during the flip, you can modify the terms of the loan with your father-in-law to accommodate.

At the last minute he decided to increase value by adding a chandelier, it almost detailed the project, hilarity ensued, and in the end they got it installed.

If you're a rental property owner in Sacramento (preferably on the Grid, but immediate outer-lying areas are great, too) then please DM me with details so we can set up a call.We both have 6+ years of perfect rental history, references, 740+ credit scores and no pets.

It is interesting to see these details for Philadelphia.  

Be as detailed as possible.

Since I've always thought of underwriters as illusive/mythical creatures, however, it's also nice to know that the right agent can deliver relevant details. 

But first, here's some homework for you - on one sheet (digital or analog) write down:Pull out your comps research and demographics, from this create an ideal customer. there's plenty online to walk you through how to perfectly describe this person in detail. 

One thing to note: the SOW for a fixed bid project is usually orders of magnitude more detailed and specific.

Never had to rely on that provision so I can't recall all the details.

Houston might be cheaper than most cities in Cali but the market is tight so if something is just hanging out on the shelf is probably a sign.One great way to get a good feel of the property is to ask whoever selling that house to take a detailed video of the house and send it to you.