Hey Dave, I just completed one in China Grove and am also mid project on one in Davidson.

We have a couple of projects in process right now.. 11 units cluster cottages and 2x sub 50 apartment projects. 

PLUMBING — SUPPLY LINESRemove all accessible galvanized supply lines in basementInstall PEX trunk and branch system to each unitNew main shutoff and individual unit shutoffs (label by unit)Proper supports, labeling, and pressure testNo in-wall work unless absolutely necessaryPLUMBING — DRAINSReplace all horizontal cast-iron drain lines in basement with PVCReplace only visibly failed vertical sectionsAdd minimum one accessible cleanoutCheck all vent stacks in atticInsulate exposed vent stacks as neededTie into existing stack and sewer lateralELECTRICALRemove abandoned/exposed knob & tube in basement and attic onlySecure open junction boxes, cap unused wiresPanel tighten, label, safety checkReplace unsafe breakers if found (no panel replacement unless quoted separately)Install basic LED pull-chain or strip lighting in basement common areasWATER MANAGEMENTSeal visible foundation penetrations and cracks (interior)Improve grading where soil slopes toward foundationAdd/extend downspouts to discharge away from structureI suggest doing a renovation of the units individually to achieve the targeted monthly cash flow and appreciation. 

What usually matters most is carrying a strong builder’s risk policy, general liability coverage for the project, and confirming workers are either insured themselves or covered under a policy written for the build.

QB was my initial system, and I basically learned on it---I feel I have more experience now several years in, and it felt really good to clean up the chart of accounts to match how I run my business today

Hi BP community; long-time member here.I’ve seen a number of threads recently around capital gaps, lender hesitation, and timing issues on short-term fix & flips, especially when a project is already under contract and moving toward closing.On 3–4 month projects, I’ve found that capital conversations tend to move fastest when the structure stays simple and the risk is clearly defined.

A low-cost renovation crew was hired and later disappeared mid-project.

Starting small, then expanding can build up your proof of concept to tackle on future projects.

You can learn the basics here for free.

Investors who’ve actually run the numbers know better too.What makes this niche interesting isn’t just the demand (which is strong), or the margins (which can be excellent), but the control you have over the outcome if you build it the right way.In a phased development model, the biggest value drivers happen long before the first guest checks in:choosing land with the right zoning pathdesigning infrastructure that can scale without reworksequencing buildout so the project pays for its own growthmatching site mix to real demand, not assumptionsbuilding a guest experience that earns repeat stays, not just bookingsOnce those pieces are right, the downside shrinks fast.You’re not relying on one tenant type, one lease structure, or one rent assumption.