Due to the unique layout of the home, and the fact that it has two principal doors on either side, I decided to convert the garage and wall off part of the family room in order to create an "in-law" suite with full/partial amenities (kitchenette, bathroom, etc) that could be rented out.My grandmother has given her blessing for the project and I'm hoping to pocket some rental income from this, but the obvious question remains: once I do the ReFi and mortgage the home, I would be taking monthly losses as my rental income wouldn't be enough to cover the mortgage.

Yes, you cut your losses and sell, @John Pfeifer.

If so,2c) Besides the potential loss of your earnest money, is there anything else to be made aware of?

Basically, as we worked it up the food chain, we were told that the bank never wants to be in the middle of a dispute regarding the legitimacy of a POA.

We are not capable of a 20k loss at this point.  

I'd be digging in to WHY the owner is cutting his losses rather than finishing the rehab.

Potential pros are you can do very well and invest in a secured investment, but cons as with any investment include risk of loss.

I took my housing cost from $1100 per month renting, to $500 per month owning.Feel free to bring food, beer or whatever.

We had our first 6-figure deal but also had a our biggest loss on a flip too - 2020 has been a roller coaster ride for sure!

Hi, we bought an investment property this year and will have passive losses.