Have him separate labor and materials to check this.With flooring, I've had a lot of success going straight to flooring boxstores and they will hold their subs accountable for reasonable pricing and save you headache.  

I understand that for this to have the opportunity to be successful, I would need to make sure this didn't break any lease agreement, but aside from that I'm interested in the details. 

Be successful on those create some capital and then start the BRRR strategy. 

Any tips for success for investing in the west side of Detroit's real estate market (especially lists of due diligence questions to ask before purchasing duplexes there)?

Its not the 13-15 CAP rates we used to see, but 8-10 is still achievable.

Congratulations on the success you have had with your 4 rental properties!

After that you will have two assets assuming your flip was successful. 

It has been extremely successful for me.

However, points and interest are just one portion of hard money terms someone should look at... there's also the junk fees, down payment, length of loan, closing speed, extension costs, flexibility with 2nd liens, etc.BTW, most new investors should be able to achieve 12% and 3pts at 90% LTC for a 1-yr loan. 

I know a number of other people who have very good success with profitable vacation rentals here.