.), as well as the roads, concrete pads, fencing, and similar improvements.

Have you thought about pad split?

Examples include:Rate Buydowns – Use the credit to permanently lower your interest rate or lock in a multi-year buydown, improving cash flow immediately.Revenue-Critical Repairs – Fund upgrades that directly impact booking rates and occupancy for STRs (hot tub, furniture, curb appeal).Preserve Cash Reserves – Cover closing costs with the concession so your capital stays in your pocket for emergencies or expansion.The Bad: Illusion of a Better Deal - A $20,000 concession feels good—until you realize the seller simply padded the purchase price to make it happen.

And unless you trust him 100%, you’ll still want to work out how to handle payments for materials and subs that will be required in advance of draws (my partner had a situation once where his JV contractor had subs pad their invoices and then took a kick-back).  

And, I didn't include any additional padding for inflation!

The last update is was on 04/20 that they are almost ready to start pouring the pads.

As far as lessons learned, padding your timeline by at least 15–20% has been a lifesaver.

Pouring concrete pad for our caretakers house.  40x 40 structure.  

Here's how we handled it:Carpet removal to prevent mold and speed dryingIndustrial fans and a dehumidifier brought in immediatelyDrywall and baseboard cut 6–8 inches from the floor (no moisture detected with a meter, but we didn’t want to risk it)96-hour drying period with equipment running continuouslyDrywall & painting contractor brought in for a full room (and full house, once we committed to a complete re-pipe)New carpet and padding orderedRe-pipe scheduled and completedThe Cost Breakdown:Carpet and Padding: $527.84Drywall, Trim, Paint, Finish Work: $2,200.00Paint Supplies: $87.70Full Re-Pipe: $5,242.20🔻 Total Out-of-Pocket: $8,057.74Yes, we’ve submitted an insurance claim and are optimistic about some coverage, but this situation reinforces a point I think many newer investors overlook: you must be well-capitalized.The Reserve Rule We Live By:We personally aim to keep a minimum of $10,000 in reserves per door.

But the cash flow helps pad any cap ex issues I’ve got with my other properties that don’t have much cash flow.