I couldn't have gotten my start here but for the fact that I jumped in right before the real estate bubble of the aughts took off, when banks were still offering no-doc loans and prices were just about to jump through the roof but still had not.

@Chrissy Disch You can pay yourself each month by pulling what you have calculated to be your cash flow out of the account you have designated for the property.

Me and my Team created a share point with numerous data and we have designated responsibility on what to provide to make the best/correct decision.

@Anthony Torres your error is that 70% of ARV, minus repairs is designed more as a flipping formula than a BRRRR formula.In your scenario, being all in at $120k and selling for $150k brings a decent profit, depending on how long it took to complete.BRRRs analysis that all in cost should be less that 70% ARV.

Expect it, and remember, a "hoarder" is now designated as a somewhat protected class (disability) so DO NOT mention that word in any of your conversations or documents. 

I know my electrical utility also has a special procedure designed for landlords where I could (though I usually don't) have an address set up to automatically switch back to me when the tenant's "stop" order goes through. 

Hand scraped hardwood floors in all main areas. 9ft smooth ceilings, Cer.Tile in laundry/ baths, beautiful kitchen design w/ custom cabinets w/ bead board backing, featuring granite counters & Stainless Steel App package + Lg Kit Island.

New Herringbone design porcelain tile in baths w/ tile new tile highlighting the garden tub, New Tile around Fireplace.

I'm frugal and have an eye for design.

The money you spend up front will more than pay for itself considering the amount of problems you will avoid in the future.Also, the $15,000 per year limit applies, BUT you have the lifetime exclusion and if you make gifts along the way that are over the $15,000, you can have a CPA file a gift tax return for you and designate some of your lifetime exclusion limit toward the excess amount of the gifts she made.Plain and simple, you need to do 2 things:1) Talk to and probably hire an elder law attorney2) Talk to and probably hire a CPA who is familiar with filing gift tax returns.