If you are new to real estate investing, It isn't often stated, but the whole idea in investing is to make more than you spend.

But "Bob" started a 6 month renovation that extended into 7 months and with preparations and exit it effected property performance for 9 month's of the year.

@James McGovern, here ya go:Based on the available data, home staging significantly impacts the real estate market by reducing the time homes spend on the market and increasing sale prices.

Talk to a bankruptcy attorney.You will likely need 3.5% down on an FHA loan if you plan on living in the house.Normal amount is 20% down if not living in the house.The value of the property will be determined by appraisal, not by looking at what has sold around you.If it's a "good deal" a wholesaler may pay cash for the property to keep it from going to sale.There are a lot of variables when buying foreclosures, and usually a lot of surprises.Have reserves ready to spend. 

Just to clarify, I don't think there's any confusion here you were asked if you could extend and said yes, when the real answer was no.

MANY newbies make the mistake of prepping their rentals like they're going to live in them - instead of "Maintaining to the Neighborhood".One of two things will happen if you don't follow this guideline:Over-Improvement: yes, you often get a tenant faster, but there is a limit to how much you can spend on improvements and get enough higher rental income to get a return on your investment (ROI). - At a bare minimum, you want higher rents to cover your funds spent BEFORE you have to spend more money fixing those exact same things again.Under-Improvement: you risk becoming a slumlord and only attracting slumtenants:(- You don't want to do this on Class A and B properties. - You have to walk a fine line with Class C and D properties.Easiest way to monitor or learn how to Maintain to the Neighborhood your property is in - check out interior pics of the rental competition on Zillow. 

When late February wasn’t going to happen, we extended it to March 15th.

How about 20 months from now when you figure out you can’t refinance and they won’t extend you.

My answer relates to @Mark Kenney’s post 3 or 4 posts above here:  of all the issues he mentioned, high interest rate, rate cap, and most importantly buy-downs to “extend loans” all relate to one thing—using short-term bridge debt, which was often done at high leverage points.Financing structure is an under appreciated factor in all real estate investing, not just syndications.  

.• Expanded Child Tax Credit Starting in 2025, families will see an increased refundable credit of up to $2,200 per child, benefiting many households.Other notable updates:Higher and permanently extended standard deductions.Permanently lower individual tax rates from the 2017 tax reforms.New deductions specifically introduced for seniors, overtime pay earners, and interest on auto loans for U.S.