There are health and safety concerns for both gas and electric ranges.

We found out this week our duplex being built had one front door kicked in and a fire built in the main room.  

@Matthew CookHey Matthew,Maryville has solid job growth and safety, but if you’re open to other opportunities, the Midwest has a lot of undervalued, off-market deals with strong cash flow potential.

I guess my hesitation just comes from the fact that I’ve never really used debt before, so it feels like stepping into unknown territory.Since my wife and I don’t make a ton and we don’t have much of a safety net, a bad investment could hit us pretty hard.

The funds in this case were likely held in their individual name, and a death, bankruptcy, or other could affect the ability to close out and complete the 1031 exchange.The safety and protection of exchange funds should be of utmost importance, which is why you should always work with a qualified intermediary that has some sort of regulatory oversight; not just an internal audit or something, but real regulatory oversight with an outside, independent regulatory audit. 

They want to know you won’t blow the rehab budget, stall out, or panic when something goes sideways.Once I had one project under my belt with clean documentation, lenders stopped questioning my ARVs and started competing for my business.A few lessons from that first deal:• Show up with a real scope of work• Know your comps better than the lender• Bring a contractor who’s licensed, insured, and organized• Present the numbers like a business, not a hopeAfter that, funding becomes a systems game instead of a confidence test.

Lessons learned?

Appreciate any insight or lessons learned from your own experience.Thanks,

Get a 300% margin of safety. 

It’s just math and risk.Most of the homes investors buy off the MLS are properties that retail buyers can’t or won’t touch, outdated systems, safety issues, old roofs, bad layouts, deferred maintenance.