Inherited Home & Land

[Lynn Bailey]

Hey BP! I recently inherited a property that I plan to rent out -- no mortgage, but the house needs some work. It's a 1950s SFH...kitchen cabinets & countertops need to be updated. Not sure what to do about wood paneling on walls & brick fireplace. I have a few GC's coming out to give estimates on the work in the kitchen. The MBR has an extremely small half bath -- I plan to get an estimate on cost to install a stand-up only shower unit. However, it would need to be extended into a closet to fit. Any suggestions on how to update the property with as little out-of-pocket expense as possible? What should I expect to spend on the kitchen remodel? Received an estimate of $19K just to re-face kitchen cabinets & replace countertops. I've never done a kitchen remodel, but that sounded pretty steep in my opinion. Any thoughts?