In  addition, any costs incurred before the property was placed into service (hard and soft costs) should be capitalized and the cost recovered over time. as for holding a bank account, separately for capex, it may be overkill.

Areas like Oak Hill/Fayetteville tend to have great STR performance during peak outdoor months, but winter softness is real.

I also underwrite way more conservatively now and plan for longer ramp-up periods or soft seasons.I haven’t moved into management or exited the space.

Always factor in soft costs like permits, design fees, and contingencies of 10–20%.

The fix took about 4 months, and in that time, the market became soft.

The margin is too thin for condo conversion as you're not accounting for sales and other soft costs.

When I finally put down my paint brush and began seeking out other real estate investors, I noticed something: every meetup I went to was almost entirely men.

Someone comes in and uses lead roof materials, electrical conduits, a tank lining, soft solder, orparts from China all which have lead in remodeling after the certification...I know lead is dangerous for children.

They use this for both "hard" and "soft" costs.In my experience with my developer clients, most use a minimum of 10% and go up to 20% for more risky (or higher cost) projects.

Since you have bought a foreclosure before, at least you have experience with the liens and the process, but you won't get a final tally of the liens unless you can get your title company to run soft title search for these things in advance.Closing on a foreclosure anywhere in Brooklyn seems like a nightmare to me from an operational end.