Budget creep is obvious and you adjust for it, but a project that should take 4-5 months spinning into 7 or 8 months is what kills margins.

Scaling from a couple flips a year to running multiple projects definitely changes the funding side of things.

Estimated hard + soft construction costs are ~$580K–$600K, with closing and holding costs bringing total project exposure to roughly $680K, excluding land.

Whether the areas are readily accessible, or if interior walls, floors, or ceilings need to be partially removed for access is a critical cost factor to consider.

However, I’ve seen many situations where people paid an enormous amount of money for work that would have cost me a fraction of that price, and the quality of labor was still very poor.I often see this happen with larger companies that subcontract the work but don’t properly manage the project.

Actual average across 7 projects?

Do you know where to look in a project's By-Laws and other Governing docs to find the information that can affect your Buyers?

Not by a little — by 20-30% on some projects.

Use your existing checklist or simply perform a visual, focusing on potential problem areas of ceilings, wall corners, insider sink base cabinets and near other water pipes or fixtures.You also should be checking, depending on your locale, for wood destroying insect evidence.Another issue with S8 inspectors is that often they will flag a repair as "Owner Responsibility" when you know it should be Tenant responsibility.

One issue I see fairly often on renovation projects in the Raleigh / Durham / Eastern NC markets is that the scope being priced by contractors is incomplete.It’s not necessarily that the contractor is wrong.