Looking at your deal and running my numbers (I also use hard money that lends at 70% ARV, 13.99% interest and 4 points), you would need to get the purchase price down to at least 230k, preferably even lower in order to get the HML to fund the full repair (assuming you can even find one that will do 100% purchase and rehab there).I have spoken to a lot of people doing deals in Atlanta and I know there are some pretty cheap properties there that make great deals.

I am worried about not being able to calculate the repairs needed on the property if I don't view every unit. 

Scope of work:-install luxury vinyl flooring-install kitchen appliances-new kitchen counter-paint kitchen cabinets-paint interior walls-roof replacement-termite damage repair-paint house exterior-plumb gas and drain to rec room kitchen-draw plans to submit to city for permitting

On the other hand, if you have a considerable claim in the first couple of years, you might have to cough up a good amount of cash with ACV to repair the damage.We recently paid a claim on a 65 year old home that had a small kitchen fire.

I have gotten estimates for $7500 to repair/replace the cedar siding but not sure what the life of the new siding would be and when I would have to replace the wood siding again.

@Pat Smith, can I ask why you are using only 4% for repairs and CapEx?

. $10k later they are off my back.Three months later…We closed on this duplex in New London a month ago to house hack a bit and live mortgage free.Took me awhile to find an insurance company because of the age/size and style of the property (it’s 5600 sqft, Victorian built in 1900).We ended up going with State Farm.Usual thing happened; guy comes out and takes a look, gives a few things we should “look at”.Tells me about a tree that needs trimming and a set of stairs on the deck needs repaired; no big deal.Two weeks after closing we get a call from SF that we have been “randomly” selected for a 3rd party inspection.Two week after that we get a call from the agent saying we now have 4 things we must complete to include CUTTING said tree down, replacing windows, fixing the stairs and now I have to paint the CEDAR shingles on the garage because only half of it is painted.As you would expect, I took this news very well and only raised my voice with the guy a little.He told me I had 60 days to fix or start the repair and that a letter would be issued on the 20th of August.Silly me, I though this letter would outline what I needed to complete.NOPE, it was a letter from SF saying that my coverage was declined and was accompanied with a refund check for my premium.Turns out that 60 days is from the date when the policy was issued, not the date of this letter.So we are now 30 days into the 60 days repair window and I’m just now getting the information… Oh and that 60 days also include a couple days to insure the agent has time to come out and re-inspect and send it to underwriting.So my 60 day window was actually only 20.Additionally, every time I call them to ask a question, I get yet another list of things I should fix.Stop giving me your opinion about what you think I should do and tell the required recommendations you need me to do so I don’t lose my insurance policy!

You should also have roughly a 10-20% buffer saved up above your rehab budget for unforeseen repairs that might need to be taken care of or for emergencies like a pipe bursting or a break-in.Investing in real estate should be with your "play" money when you're just starting out, you don't want to be putting your entire savings into your first deal and have it go sideways and lose everything you've saved up.

Particularly around South GA, and North FL.I would like to start out with mobile homes beacuse I have experience in repairing them. 

Hello all,Wondering if anyone can hook me up with an honest person who can repair a leak in a roof?