How's this deal sound?

[Dustin McGee]

Hey everyone!

Just putting this deal out there on the thread to get as much feedback as possible.

We found a 2 bedroom 1 bath house for $60,000 and the owner is going to finance provided we pay the $3,500 down payment. The property is ready to rent as is but I have a better plan.

It has two living rooms and I was thinking about throwing up a wall in the one living room and making it a master bedroom with a master bath as well. This wouldn't cost much to do, I'm estimating $7,000-$10,000 to turn this into a beautiful 3 bedroom 2 baths house.

3 bed 1 bath houses are selling for $115,000-$125,000 in the same area so I'd imagine 2 bath would put us well above the others.

Any feedback or questions on this one would be great.  

Once I get the project rolling, I'll post progess pictures!

[Michael Japuncic]

Make sure you get multiple quotes on the renovation because that seems pretty low for adding a bathroom. Bills for tying into plumbing can really add up. Other than that, it seems like a great deal and plan, good luck!