Again, you fail to explain that we waived any mark-ups on this project and completed all work at vendor cost, including the costs that we fronted for you.

It would also require IRS approval in this case to make this kind of accounting change.The bookkeeping will take more time, but on a good sized project it would make sense.

We had a good year in Tampa and projecting YoY rate growth for the suncoast.

If you have >50% of your existing capital/funds tied up into the first BRRRR project my inclination would be refinance sooner rather than later waiting for better terms/conditions to refinance.... not knowing whether that will take place.

They are projecting the home to take 6-7 months to build. 

They are primarily concerned with credit score and how well the property is projected to perform.

Are you factoring longer vacancy periods into your projections?

Some of those complaints have merit and there are clearly bad actors in the space, but many of these situations involve projects that are simply delayed or underperforming, not fraudulent or mismanaged.This all converges on a simple point: it is critical to vet potential LPs before taking their money.

Just make sure the loan structure fits the deal — fix & flip financing looks very different than long-term rental or DSCR takeout.For context, at Garwol Financial we help investors finance fix & flip projects in Chicago and across most other states, and we often work with out-of-state buyers who are building teams remotely.

To justify the cost, you should get or hire an engineered study for this to ensure the projections match your income level.