All Forum Posts by: Sebastian Hernandez

I would take the money. Sounds like you can rent it quick anyway.

I suggest you reach out to local contractors for an estimate. A savvy and experienced contractor will charge you but there are many that will do it for free. 

Over time I have seen many people over-pay for properties they plan to flip, and then try to make it up by trying to work with the cheapest providers. Often times resulting in bigger headaches like bad jobs, massive delays, do-overs, and even losing money on the flip. On the other hand, successful investors understand that and they focus on purchasing at the right price and following their plan achieving a profitable investment. 

A and B players in the contracting space are not interested in being the lowest costs providers and in flipping having the right contractor will be key.

Just my two cents, welcome any thoughts/comments.

Definitely don't house-hack in an area you don't feel comfortable in. 

Welcome to Bigger Pockets, best of luck!

www.SarinelliCPA.com

Option B in my opinion

I see great answers here. 

I think that question truly depends on your goals and doing what will help you achieve them. 

Pulling money out of this property through a cash-out refinance and using those funds to purchase another property could be a great option. 

Welcome to bigger pockets, best of luck!

I feel like doing business with friend and family is always a tough subject.

Personally, if I have the trust and confidence in them, I would do it. However, make sure that you have a lease agreement in place and that they have the sufficient income. In other words, vet them, while they are friends this is still a business and it needs to be treated as such.

Just my two cents, good luck!