First Rehab under contract!

[Charles Fletcher]

We just got our first rehab property under contract (!!!) $119k, needs $20k in repair, ARV $160K or $1600 rent. Our strategy is to refinance it and rent it.

3/2 1450sqft in Pearland.

Question: It has a weird non-bedroom in the front with doors on the kitchen side and the entry hall side. Would you:

1. tear down the walls and make it a dining room, making the whole house look a lot bigger, (aesthetically pleasing option)
2. close one of the doors and make it a study/flexroom, (cheap option) or 
3. add a small closet and make the house a 4/2 (Max ARV option?)

The Pros and Cons of each scenario would be really helpful!