How much for a rehab?

[John D.]

Okay so I have a co-op under contract 2 bed 1 bath. I plan in rehabbing and living in apartment for one year and then moving and using it as a rental income. ( allowed after one year with a $150 sublease fee) here are the numbers..purchase 206,500...20% down payment. Principle and interest are roughly $790 HOA FEES $705 not including electric

$1650 cost per month and rents in area are going for 1900-2200 for 2 bedrooms.

1) your thoughts on this deal

2) how much money should I put

Into the rehab to keep this a good investment

*apartment bones are good planning on painting and redoing existing hardwood floors but don’t want to over rehab a rental