(There are actually three entirely different sets of wonky calculations, depending on the exact situation, that I will not bore you with.)What you need to know, however, is that if [rent * 75% - PITI] works and yields a positive number, and if the home actually makes money, and if you haven't lied on your tax returns, then the wonky calculations that we do will not throw you off - and in all likelihood will actually improve your DTI.

Most of the posts here are asking where to find contractors, vet them, or referrals, personally I think by giving these files to them but using them carefully will help you vet if they are flaky or not, companies or GCs that know how to fill these and can comply to this will be a bit pricey, but I am 90% sure that they are of medium caliber and will be reliable than your "2 guys with tools".Files Uploaded:CKCC Daily Sign In Sheet - MOST IMPORTANT DURING A FLIP CKCC Project Budget Sample CKCC TEMPLATE Payment Application Sample CKCC Invoice CKCC Conditional Waiver and Release on Final PaymentCKCC Conditional Waiver and Release on Progress Payment CKCC Unconditional Waiver and Release on Final Payment CKCC Unconditional Waiver and Release on Progress Payment CKCC Residential Improvement Contract - Rehab Contract CKCC Residential Time and Material Contract Notices After Contract Signing CKCC Certificate of Completion CKCC Quote Request Form CKCC Purchase Order FormGood luck and happy hunting!

Not saying a roofing contractor would have been cheaper (I am sure he would not have been), just think it's a VERY BAD idea having someone that's not an insured contractor performing repair work....especially on a roof.  

I had a quote of 2.64% for a 4 year term on my principal residence in Canada just today.The US starts around 4% but then you have to add 30 to 40% for the exchange if I use Canadian money for the payments.So, ideally I need to borrow as much as possible for my deals and pay it off as the dollar improves. 

Unless your private lender is so small that they don't mind sharing their bank account information with every realtor/seller you are ever going to work with, not many of us are going to give you our bank statements, and the fact that you have someone else's bank statements would not indicate to me as a seller that you have the capacity to perform to a cash offer contract you are asking me to sign as a seller. 

You cannot depreciate any improvments on the property.  

Alternatively, I believe I can sell the condo and break even in five years, due to improvements in the neighborhood and paying down the principal during that time.  

I know most of you would tell me I should be pre qualifying leads before actually wasting my time to go to the property, but I wanted the experience of walking through houses, learning to build rapport and improve my sales skills.

Although I am not completely opposed to renovation I am looking for something a bit more turnkey which I can add value to through non structural improvements.

Then analyze potential areas of improvement after the dust clears.