I think that total fees should not exceed 10%, repair and improvements excluded.

I have built and remodeled hundreds of homes utilizing green materials, energy efficient products, and high-performance building techniques that most builders have never heard of simply because the practices I utilize are ABOVE code.

Also, managing poor contractors' performance was much needed on this project and I am finding, will be more of the norm than the exception.

With only 2% estimated at expenses, I'd be curious what comprised your $66.5k improvement budget. 

In reading through the policy documents provided by Stewart Title, it appears that the ALTA Homeowners policy we purchased:"This policy covers only Land that is an improved residential lot on which there is located a one-to-four family residence and only when each insured named in Schedule A is a Natural Person"So....looks like I bought the wrong type of policy?

And I made some big mistakes. but I also got the ball rolling and wound up with some amazing properties that have performed well and appreciated like crazy.So I guess my encouragement to you is to to go for it!

We engaged professional management and are currently making capital improvements to renovate and upgrade units and resolve deferred maintenance.

It doesn't get us all the way there, but it's improved our NOI quite a bit so far and as many of the current tenants leave we can change this even more if we need to. 

I believe it's an advantage to do a live in flip as you can go at your own speed and make improvements on your own schedule and even do some of the work yourself and gain some experience. 

If done, it will:  improve the curb appeal , lower maintenance, create more privacy,and add rv parking.