Purchase price: $122,000 Cash invested: $41,000 Value after renovation $175,000.Closing $ 31,000 Renovation $ 10,000 How did you add value to the deal?

Would love to connect with other investors in the area that are also doing long-term rentals, renovations, and/or short-term rentals.

I'm looking for an experienced contractor to partner with on my first full flip; I own two properties and have done minor renovations to those properties but this is my first full flip with a full rehab so I want someone with experience to assist as I learn the ropes.

Cost of risk scenario. 
Reno Scenerio Off Market Purchase Price - $185k 
ARV = $315-335k
Reno - $55-65k
Holding - $10k
Closing both ends - $25k
= $335 , $315-$285 =$30-50k gain  

As-IS Scenario Purchase - $18...

Congrats on the upcoming renovation @Cory Kerr - sounds like a big one!

That does not work and is only for experienced renovators who know their buy box and know they will always go to the studs and redo everything.Just get out in the field, see every dump on the market, take sneak photos to show to a contractor, and get some investor and contractor friends who will be in the ballpark on the costs.Understood, Thank you very much!

I’d rather not give up my current first mortgage rate to get cash out to renovate. 

There are types of deductible debt: - Acquisition debt (a loan to directly acquire an asset)-Renovation loan (loan against an asset, used to renovate that asset)-Replacement debt (a loan which is a refinanced replacement of an initial qualifying replacement). 

Since you estimate a resale value of $200-215K and renovation costs of $60-70K (although you said that's on the higher end), your margin is tight, especially considering closing costs, realtor fees, and unexpected expenses.

- Run your numbers (including all operating costs including property mgmt) based on current rents in AS IS condition and renovated.