. — It’s looking like I will end up with about $15k out of pocket for a total of $30k rehab.This includes new appliances, adding central HVAC, flooring, new cabinets/counters, Interior and exterior paInt, foundatIon levelIng, etc.

The only pictures it has are of the exterior and it just looks like a normal house.

I would budget for doing a complete cosmetic rehab: interior and exterior paint, replace all flooring, new appliances, light fixtures and fans.

I'd say that you want to learn as much about the property as possible before going under contract, especially the big-ticket exterior items (i.e. roof, HVAC, parking lot, clubhouse, siding, etc.).

Cleanup Job (Low cost fast flip): - landscape package in front - remove deck- remove vines from house - clean exterior, fix siding and wood rot, paint neutral beige/gray color - clean driveway/weed, clean retaining wall/pavement - replace flooring with mid grade flooring bottom level, carpet upstairs - replace interior fixtures - paint interior white trim, light color beige/gray walls, popcorn ceiling removal - new kitchen appliancesRehab options:- Replace deck with new one (kind of awkward that high to me) vs Remove and fill in wall or add large window to master.- Potential space to move laundry into upstairs bathroom closet vs basement - Can maybe get away with toilet/vanity replacement in each bathroom- Uncertain if painting or replacing cabinets with ikea type is worth it- Any in-ceiling lighting will cause a disaster with electrical since it is out of date- Repave/fix concrete front porch and side porch - replace/paint railing- Replace front walkway cement, or remove walkway and replace with right angled walk to driveway (may not provide ROI)- Tear down vs paint garage port in back yard

-I have no pictures of the interior as listing only has exterior pictures, but I assume it is on par with a C+ property so updates will be needed.

There's still value add in the exterior, so definitely don't ignore it, but don't go overboard.

id=1IaAr5B1WeT...Cleanup Job (Low cost fast flip): landscape package in front remove deckremove vines from house clean exterior, fix siding and wood rot, paint neutral beige/gray color clean driveway/weed, clean retaining wall/pavement replace flooring with mid grade flooring bottom level, carpet upstairs replace interior fixtures paint interior white trim, light color beige/gray walls, popcorn ceiling removal new kitchen appliancesRehab options: Replace deck with new one (kind of awkward that high to me) vs Remove and fill in wall or add large window to master.Potential space to move laundry into upstairs bathroom closet vs basement Can maybe get away with toilet/vanity replacement in each bathroomUncertain if painting or replacing cabinets with ikea type is worth itAny in-ceiling lighting will open up codes stuff with electrical since it is out of dateRepave/fix concrete front porch and side porch - replace/paint railingReplace front walkway cement, or remove walkway and replace with right angled walk to driveway (may not provide ROI)Tear down vs paint garage port in back yardWhich do you think provides highest ROI? 

He keeps his income stream without having to manage the property anymore, you get the property and can upgrade it.If you can successfully upgrade one unit and the exterior and show the increased rent follows, it might be easier to get an investor to help with the others.

*HOAs usually cover lawn care, sprinklers, lawn watering, siding and exterior care, insurance, and more                *This covers most of the exterior line items that you would otherwise have to address in a single family home.