I own a licensed gc company so if it is in a decent area I know I can add alot of value to it at a cheaper price since there won't be any labor or material markups.

The place where you can add value with no money is a situation like: you find project A, it is a 120k purchase and it should need 80k rehab but you can get rehab done for 65k cause you can do some of the work and you know how to save on materials and you can manage the rehab. 

Materials will be about the same, but labor may vary greatly on location.

Best of luck on your continued journey, HELOCS can be a great tool to utilize untapped equity in a house.

By utilizing section 8 income we will turn it into a property that is insured beyond belief and make over $ 418,000 gross $320,268 net.

Learning how to use the correct tools and materials for a job, YouTube videos and even ChatGPT will help you get through 80% of the problems you will run into.My rule was I would not mess with HVAC, plumbing and electrical Or if it would take more than a few hours. 

. $50k sounds like a lot to you but with the price of materials and of qualified labor, it does not go too far.

for one tenant it says that the landlord is responsible for utilities, and for the other tenant it says that the tenant is responsible for utilities.

While the cost can vary depending on the scope, zoning, and materials, I’ve seen similar projects run anywhere from $50,000 to $150,000, depending on factors like plumbing, electrical upgrades, and structural work.If you’d like, I can connect you with a few contractors or architects in Chicago who specialize in basement conversions.

@Gene PanicciaManagement fees vary, but it's not uncommon for a PM to charge fees for managing tenant-paid utilities or coordinating repairs.