Fix & Flip # Fix and Flip Scope of Work Checklist What your fix-and-flip scope of work and budget can include for a Texas hard money review - line-item work, costs, timeline, and how the scope ties to draws. [Apply Now](https://cedartoplending.com/apply/) [Get a Quote](https://cedartoplending.com/contact/) By Cedar Top Lending · Published June 22, 2026 · Last updated July 23, 2026 ## Quick answer A fix-and-flip scope of work is a written renovation plan: the line-item work, the budget for each item, and the general timeline. A clear, realistic scope of work and budget help the review and set up the draw schedule. A clear scope of work is one of the most important parts of a [fix-and-flip](https://cedartoplending.com/hard-money-loans/fix-and-flip/) loan. It turns your renovation into a plan we can review, and it sets up how your [draws](https://cedartoplending.com/resources/draw-process/) will be released. This checklist covers what your scope of work and budget should include. For the full review picture, see [hard money loan requirements in Texas](https://cedartoplending.com/blog/hard-money-loan-requirements-texas/). ## What a Scope of Work Is A scope of work is a written renovation plan for a non-owner-occupied investment property. It lists the work to be done, the budget for each item, and the general timeline. A clear scope of work shows the work and what it costs; a vague one is hard to review. ## What a Scope of Work Should Include Use this as a starting point. The right level of detail depends on your project and the property. Component What to include Why it matters Line-item work Each task by area or system Shows the full project Material and labor costs Cost for each line item Supports the budget Timeline The sequence and duration of the work Shows feasibility Contractor information Who performs the work, if available Adds context Permits Where applicable to the work Keeps the project on track Value support Comparable sales for the projected value Supports the resale plan ## Line-Item Areas to Cover Breaking your renovation into areas helps build a complete, line-item scope. Depending on the property, you may cover: ### Exterior and structure - Roof, siding, and exterior - Foundation items, where relevant - Windows and doors ### Systems - HVAC - Electrical - Plumbing ### Interior - Kitchen and baths - Flooring, paint, and fixtures - Interior finishes ### Site and other - Landscaping and exterior site work - Permits, where applicable - A contingency for the unexpected ## Building a Realistic Budget Underestimating cost is a common scope-of-work mistake. A budget that ties realistic costs to specific work is easier to review than an optimistic lump sum. You can estimate your project numbers with the [fix and flip profit calculator](https://cedartoplending.com/resources/fix-and-flip-profit-calculator/) and the [hard money loan calculator](https://cedartoplending.com/resources/hard-money-loan-calculator/), then build your scope of work around them. Nothing in a calculator is a quote. ## How the Scope of Work Ties to Draws Renovation funds are released in [draws](https://cedartoplending.com/resources/draw-process/) as stages of your scope of work are completed and inspected. A clear, well-organized scope makes it easier to request and document each draw. For how that works, see [how hard money loan draws work](https://cedartoplending.com/blog/how-hard-money-loan-draws-work/). Keep your scope and budget updated as the project moves. ## What We Review on a Fix-and-Flip On a fix-and-flip, we review your purchase price, your scope of work and budget, value support for the projected value, photos, your borrower profile, and your resale exit before determining whether your loan fits. ## What Can Weaken a Scope of Work These do not always stop your loan, but they can slow the review or require more documentation: - A single lump-sum budget with no line items - Underestimated renovation costs - No timeline or sequence - A scope that does not match the property's condition - A projected value not supported by comparable sales ## Common Scope of Work Mistakes - Treating the budget as a single number - Leaving out a contingency - Forgetting permits where the work calls for them - Drifting off the scope mid-project without updating it - Unsupported value assumptions ## Related resources Apply for a Texas fix and flip loan. Send us the property, your scope of work, and your budget, or call 817-984-3129. Review is subject to underwriting, collateral review, title review, documentation, and approval. [Apply Now](https://cedartoplending.com/apply/)[Get a Quote](https://cedartoplending.com/contact/)[Fix and Flip Loans](https://cedartoplending.com/hard-money-loans/fix-and-flip/) ## Frequently Asked Questions ### What is a scope of work? A scope of work is a written plan of your renovation - the tasks to be done, the budget for each, and the general timeline. It turns a rough idea into a clear, reviewable plan for a non-owner-occupied investment property. ### Why do lenders review a scope of work? Your renovation plan is a major part of a fix-and-flip review. A clear scope of work and budget help us understand your project and how draws will be released. ### How detailed should my budget be? A line-item budget that ties costs to specific work is more useful than a single lump sum. The right level of detail depends on your project and the property. ### What if my budget changes mid-project? Renovation plans can change. Keep your scope of work and budget updated and let us know about changes, since draws are tied to the work that is actually completed and inspected. ### Does the scope of work affect draws? Yes. Renovation funds are released in draws against completed stages of your scope of work, so a clear scope helps the draw process run smoothly. ### Do I need a contractor lined up? Not required. Contractor information adds context where available, but what is needed depends on your project. ### Should I include permits in my scope of work? Where the work calls for permits, noting them in your scope of work helps keep the project on track. Permit requirements depend on the work and the local jurisdiction. ### How does the scope of work relate to ARV? The scope of work describes your renovation, and the projected value after the work is supported separately, often by comparable sales. ARV is defined in our private money loan glossary. ### What can weaken a scope of work? A single lump-sum budget, underestimated costs, no timeline, or a scope that does not match the property's condition can all weaken a scope of work and slow a review. ### Where can I estimate my project numbers? You can estimate your project numbers with our fix and flip profit calculator, then build your scope of work around them. Nothing in a calculator is a quote. ## Related Reading - [Hard Money Loan Documents Checklist in Texas](https://cedartoplending.com/blog/hard-money-loan-documents-checklist-texas/) Guides A Texas hard money loan documents checklist covering your property details, purchase documents, borrower information, project plans, and exit strategy. - [Hard Money Loan Requirements in Texas](https://cedartoplending.com/blog/hard-money-loan-requirements-texas/) Guides See what Cedar Top reviews for your Texas hard money loan, including the property, your equity position, your borrower profile, documents, and your exit strategy. - [How Hard Money Loan Draws Work](https://cedartoplending.com/blog/how-hard-money-loan-draws-work/) Guides How rehab and construction draws work on your Texas hard money loan - funds set aside at funding, then released as work is completed and inspected. This article is general education for real estate investors, not financial, legal, or tax advice. Non-owner-occupied investment property only. Terms, rates, and availability are subject to underwriting, collateral review, title review, documentation, and approval. This is not a commitment to lend. See our [disclosures](https://cedartoplending.com/licensing-disclosures/). --- Canonical URL: https://cedartoplending.com/blog/fix-and-flip-scope-of-work-checklist/