It is a great tool to know and understand construction, even though you will start hiring a lot or all of it  out as you continue to scale.

These laws essentially state that if you sell a controlling interest (the % is defined in the law) in a business that owns real estate then the transfer taxes are still due... and collectible once discovered.So see how this plays out.

Essentially, one of us has the seed money the other has all the tools and contacts to rehab, repair, etc.

However, I have been using the BP BRRRR calculator tool for some offers I have made, and my question for the experienced BRRRR investors is this:If you rehab the property to the point where almost everything is new (roof, kitchen, baths, HVAC, electric, etc), why do you still need to factor in 50% of the rent as going towards expenses if you don't expect any?

I'd recommend using the networking tools here on BiggerPockets! 

A CPA should confirm this, but my understanding is if it was closed and vacant, and not 'in service' at the time of purchase, it was essentially acquired for the land value.

What's a good way to test the accuracy of tools like the BP rent estimator and others?

I was lucky enough to have a family member sponsor this purchase essentially.

Make sure you check out all that this site has to offer.The site has quite a few tools that can be helpful for new members.

Then, in a couple years I could replace the roof at my discretion.On the flip side, if the appraisal does get revised, I could continue as originally negotiated essentially rolling a new roof into the low rate 30 year mortgage loan.The more I consider it the more the lower closing price and payment sounds desirable with the exception of needing a new roof literally hanging over my head.What would you do?