inherited house turning into rental question of what to fix ?

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Congrats @Sam Alberry on your decision to finally get this house working for you. I love the isea of keeping it since you grew up there. The quote sounds high to me, and I agree with Thomas S. Spending $26K to get an extra $250/month doesn't make sense out of the gate. Once you've built up some capital, you can upgrade things between tenants. Spend some time stalking the comps in the area and see what upgrades the lower end of the market are demanding. Focus your repair budget on staying competitive. Important to address the kitchen/bathroom. I agree with what others have said, pressure wash exterior, paint the cabinets, replace countertops, updated appliances, shower kit, new carpet is fine at this point. I would definitely spend money to get washer/dryer hookup. I never market rentals without W/D, but I do wait until I find a tenant before I buy, as some tenants bring their own.

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Regarding the Washer/Dryer. Unless it is something every property has where you are I wouldn't spend any money on it. Make sure the hookups work and advertise it as having those. If you are saying there is already a set there that works, personally I'd sell it on craigslist.

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Thanks to everyone for their input . to answer some of Patrick's questions first vinyl plank question is b/c the feedback I got from landlords up here and some contractors is when renting its the easiest to replace only sections of flooring instead of having to rip up the whole floor . Ya I thought the painting was very high also that's why I posted . I will look into some gutter companies in my area thank you for that thought . He would actually have the door swing in which I thought was a good ideal since we get so much snow that sometimes we cannot open the door this way the door can be opened and they could shovel themselves out . Greg I agree with you 26k was much higher than I anticipated and based on all the feedback I have received on this post and another post seems that my suspicions were correct . The house does not have a washer dryer hook up right now so the $500 was to provide the hookups and vent for Dryer . The only reason we provide washer and dryer is so the tenant will not be moving in and out a washer and dryer however in the lease it specifies they are responsible for all repairs and the set will not be replaced if they end up broke .Hey Adam thanks for the reply : Thanks for reconfirming what I though about the interior paint . The reason I had for framing the opening in the cistern is liability of a child somehow falling into the cistern if I left it open I had contemplated removing the whole thing but that would be to expensive so that's the reason for that . Should I not be worried about the liability? the bedrooms floors had basically rugs in them with broken tiles underneath it. The toilet we picked out was $199 and the sink was a cheap $79 one so I thought $1600 was way high and he told me he put it out to pro bid with lowes and does not make up his material.

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Painting seems extremely high, i believe he is charging you $6/ sq' - cut out the painting and get other quotes for that. do not install Vinyl gutters, get a gutter co. to come in and install seamless metal gutters. does the garage door swing out over the treated landing ? if so, that size does not meet code, should be at least 3' not 2'-4" if that is the case. the floor price it seems he is charging you $5/ sq' - you can get and install a laminate floor for that or less, why vinyl plank ?

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An extra $250/month is not worth a investment of $26,555 to upgrade the house. Do most of the minimum recommended, clean, paint, get rid of carpeting make it clean and livable and get it rented. I would not provide the washer and dryer just provide the connections and have them provide their own. Make sure all utilities are in tenants name and have them sign a M2M lease.

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Make sure you get it livable first.Then update things you see as you walk in the door. Focusing in Kitchen and bathroom especially.

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The main thing with rental properties is like the others mentioned, making it clean, safe, and functional. To first go through your quesitons, see below.Siding - leave the siding, just pressure wash itBathroom - replace the tub w/ a shower kit. Living room - replace the carpet, it is very outdatedWasher and dryer - Depends on your market, but here it Atlanta it is rare to have a W/D included in a home. I would tell tenants like you stated, that they can use it but if it stops working you will not fix it. Basement - Most of water problems can be repaired with properly functioning gutters. As I see from the pictures, you do not have gutters and not much of an overhang. I would add gutters and downspouts, make sure gutters are sloped properly, downspouts have water running away from the home, etc. Just board up the cistern, gutters should solve your water problems. Kitchen sink and cabinets - leave sink, replace countertops, paint cabinetsIn regards to the quote, this seems very high. Again, I am not familiar with your market, but that is a lot more than what you would expect in Atlanta. So, prices listed below are based on Atlanta. Exterior painting is very high, at most it should be about half of that. Gutters & downspouts should be around $900 for the entire house. There is no need to bury the drain pipe, just add downspout splashes or corrugated pipes to each downspout and run the water away from the home.Garage door seems fairly priced. Interior paint is crazy priced, that should be around $1500 but no more than $2k.Coat floors, I would not do. If you actually get the gutters done and you still have a problem, then you can look into bigger repairs. Price wise, it is a fair price.Frame cistern wall, fair price but again I would not do thisInstall vinyl flooring, why are replacing tile? Is it that bad? If its not, then i would just leave the tile and replace the carpet. Anyways, $5300 for vinyl flooring is a bit much. It should be around $3-$4/sqft, so that leaves you at no more that $4k.Install bath toilet, sink, exhaust fan, and gfi should be about half of what they have. Maybe $1k but no more.

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So here is my 1st SOW submitted to me . This is a contractor who fits the bill as far as the best practice of going to home depot or Lowes and finding a contractor who is there first thing in the morning I have received email communications as early as 4 in the morning he has 2 crews been in business for 20 years . I will admit though going through J Scotts book the estimate came in a little high I thought (and yes I looked at the high as well as the low) . I will admit I do not know the exact sq footage of the exterior but the interior is listed at 974 sq feet . The SOW also missed putting in a washer and dryer hookup in the basement I believe he told me that would be $500 . The total estimate for the project was $26,555 he does want 50% up front for some of the work which would be $3,290.I am interested in any feedback I could get. I did have the house assessed at 125k . I am trying to get a feel from all of you if you think the quote is in line .When I went through and figured out pricing I thought 15-20k for the whole thing and his estimate didn't include a new shower installed and a new Garage door that I need to have put in . When I include all that I am looking at 30k which is a little more than I felt I would be spending . I am just trying to obtain opinions on if I just miscalculated a little or if you all feel the same that it is just a little high especially all of the contractors out there . Thanks everyone! have a great Day!I am going to get a 2nd and 3rd SOW to see how it compares Quote Submitted to Sam Alberry 402 Main St Glen Park, NY 13601.SCOPE OF WORK:Paint Existing Exterior Aluminum SidingScrape all loose and flaking paint and pressure wash exterior walls. Apply one coat of Valspar exterior latex primer and one coat Valspar Storm Coat white exterior paint.Total Cost (Materials, Labor & Debris Removal)………………..…$6,060.00Paint Exterior Foundation Masonry Block WallsScrape all loose and flaking paint and pressure wash block. Apply Dry Lok, white in color, two coats, as recommended by manufacturer as primer coat not required.Total Cost (Materials, Labor & Debris Removal)………………..…$520.00Payments to be made as follows: Deposit $260.00. Balance $260.00 due upon completion.Install Exterior Rain Gutters & Rain Handler Louvered Rain DivertersInstall white vinyl gutters above the garage door and entry door into the garage. Gutters shall drain from front to back with a downspout and buried drainage pipe to daylight. Install 12’ white Rain Guard system to the right side eve location and two Rain Guard sections to the home’s left eve locations 18’ section and a 12’ section.Total Cost (Materials, Labor & Debris Removal)………………..…$850.00Install New Garage Entry Door & Pressure Treated Entry LandingInstall a new steel 9-lite left hand entry door for the garage egress to replace the existing door. Remove and replace the existing wood landing and replace with new pressure treated lumber and treating deck boards. Approximate size 5’- 0” x 2’- 4”. Replace one 4’x 8’ piece of 1” white Styrofoam board located on the interior wall between the garage door and entry door.Total Cost (Materials, Labor & Debris Removal)………………..…$1,255.00(installing a 32” door which requires re framing the opening and cutting away the aluminum siding to fit a wider door)Paint Homes’ Interior Walls & Ceilings for Complete CoverageRepair minor holes and cracks prior to painting and prime joint compound. Paint ceilings and walls, one coat coverage. Ceilings shall be Valspar flat white ceiling paint w/ primer. Walls shall be Valspar Signature latex satin paint w/ primer. Paint kitchen cabinet doors and exterior frames. Repair minor holes and cracks. Colors shall be as per customer’s selections .Total Cost (Materials, Labor & Debris Removal)………………..…$6,525.00Coat Basement Floor & Walls with Dry Lok (Partial and Full Wall Sections)Coat entire basement floor, three partial walls, complete back wall and complete cistern walls with Dry Lok masonry wall waterproofing. Clean and prep walls, remove any loose existing coating.Total Cost (Materials, Labor & Debris Removal)………………..…$2,400.00Frame Cistern Wall to Floor JoistsFrame upon the existing concrete cistern wall with 2”x4” lumber to the bottom of the floor joists to enclose the entire cistern. Install osb plywood, prime & paint.Total Cost (Materials, Labor & Debris Removal)………………..…$800.00Install Vinyl Plank Floating Floor SystemDemo existing floor finishes such as carpet and tile flooring. Prep floors as necessary for the installation of new flooring. Install Stain Master Vinyl plank floating floors to all rooms. Style and colors as per customer’s selections . Remove existing floor coverings to include carpets and tile.Total Cost (Materials, Labor & Debris Removal)………………..…$5,350.00Remove Existing Master Bedroom Closet Wall.Remove framing and drywall of existing closet dividing wall. Install ceiling light and switch. Repair wall and ceiling drywall.Total Cost (Materials, Labor & Debris Removal)………………..…$650.00Install New Bathroom Toilet & Pedestal SinkRemove existing toilet and sink. Remove the piece of plywood from under the toilet and *inspect subfloor around toilet floor drain. Install new toilet, wax seal and water supply line. Install new pedestal sink, new supply lines and drain kit. Install new exhaust/fan to include electrical and exhaust. Install new switches and GFCI receptacle.Total Cost (Materials, Labor & Debris Removal)………………..…$1,645.00* Inspect sub floor after toilet removal for sub floor deterioration. If deteriorated sub floor is found and requires replacement the materials & labor shall be charged at a rate of $35.00 per hour plus material costs.Replace Existing Electrical Receptacles, Switches & CoversRemove and replace all existing electrical fixtures and replace with new 15 amp with new plate covers.Total Cost (Materials, Labor & Debris Removal)………………..…$300.00All Work Guaranteed For One Year From Date Of Completion

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Thank you all for your replies much appreciated : The market on the house for rental would be between $950-1200 a month depending on how many improvements are made

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I agree with Sam - you need to know what your rental market will support, then try to be at the top of that market in terms of finishes. There was an excellent post on BP yesterday about preparing your house for a rental. Clean, well-lit, no smells, great curb appeal (impressions are formed within the first 7 seconds), and many other very wise tips for renting a property. You want to attract the best tenants that you can. You also want to make your property as maintenance free as possible before the tenants move in. This will save them and you frustration and money and will improve the value of YOUR property. Remember It's YOURS, so take good care of it. (Ex. my plumber said, yes I could get a $99 toilet OR I could pay $239 and get a great toilet and not have to call him out for service calls every few months - it's the cost /benefit angle you have to consider). Gutters are a major contributor to water issues - divert them away from the foundation. Check your grading - soil should be graded away from foundation. Also, French Drains are not that expensive to install. Ask around. DO NOT pay $28,000 for one, as I knew one guy did. That would help, in conjunction with a sump pump, if you have a high water table there. Yes, I'd remove the cistern. Paint the basement floors(gray is nice) and walls(white) (use DryLok on the walls) and spray paint the ceiling with flat black. Put in bright fluorescent lights and you have a welcoming laundry area, hopefully as bug free as possible.Those are general guidelines that hopefully you can apply to your specific situation.Nina