Cash flow is a function of stability as much as gross rent. 

Cheapest most functional way to remedy that ungrounded issue.  

Start with the essentials, not the cosmetics.A rent-ready home needs working systems, not “wow” factors.Our checklist always starts with:• Plumbing function• Electrical safety• HVAC reliability• Roof conditionIf these aren’t right, nothing else matters.2.

Buy a slightly ugly but functional property.

Dwelling Coverage = Anything that is permanently installed and services the structureThis bucket includes items that are:Built-in, hard-wired, or plumbed directly into the propertyRequired for the property to function as a habitable dwellingNot intended to move with the ownerExamples carriers consistently classify as Dwelling:Furnace, HVAC condenser/air handlerHot water heaterDuctworkElectrical panelsPlumbing systemsHard-wired appliances (dishwasher is usually in this group)Built-in microwave/vent hood comboCabinets and countertopsAttached light fixtures and ceiling fansWater softener (plumbed in = treated as part of structure 95 percent of the time)These are structural systems.

Make sure they’re a true lender (not a broker), request a clear term information with no surprise fees, confirm they regularly work with first-time flippers, and ask how their draw process functions.

It does not to the listings and some other functionality you mentioned, but I don't know of other great software for banking paired with accounting and one and free-to-tenants rent collection.

For the majority of these older multis, 12% is the number I see most often, because it accounts for systems that are still functional but clearly nearing the end of their useful life.

At this price point, functional/financial vacancy tends to run high, so underwriting conservatively is smart.

Strong retail buyer pool, faster DOM, and cleaner comps                                                                            Buy Box (Beginner Friendly                            1965–1985 builds                                   Mostly cosmetic rehab           No cast iron plumbing                                        Minimal foundation movement                                                 Roof/HVAC functional or newerThis combo helps keep surprises (and margins) under control.• Rehab Budget: Newer flippers succeed most often with $25–$45K cosmetic scopes.