I added value by making it easy for my borrowers by making the deal no cash out of pocket and offering recommendations for local contractors.

Upgraded bathrooms, added a dishwasher, new washer/dryer, new heating/air conditioning, paint through inside and reinforce of basement wall.

The basement is open with a full bath (we recently added during a sewer upgrade); the 1st level contains the kitchen, living, dining, and mud rooms; the 2nd level contains two beds and one full bath; the third level contains two full bedrooms (a large, nicely converted attic). 

In my humble opinion, everything on your list was at a D at best.

A different strategy is to occupy a house for at least 2 years, while adding value; sell...military has better tax benefits...can exclude capital gains taxes over 10 years of holding.  

There is also a small amount of added FMV to account for the fact that CoCR DO NOT TAKE INTO ACCOUNT Closing Costs on the SELL SIDE.The above Spreadsheet is the IRR Equivalent of a CoCR.

In the end, deciding to BRRRR in the beginning gives you the flexibility to flip the property if you choose because you bought it right (well below market value), and added value/equity.

@Christian BarthelemyHi Christian, I'm with an active multifamily investing group looking for 18-50 units (value add plays) in the Houston metro area and I would love added on your deal list.

I have two paths forward to get my first deal done, and I'd love to tap into the collective wisdom of the BP community for feedback.Option 1: Buy my own small multifamily (2-4 units)However, it's been difficult to find actual "deals" and candidly I haven't put in the effort to go all out, with direct mail, digital ads, out of state owners, etc. mostly just working with brokers and looking at the various online sources. 

We addressed the problem for $800 and added $100 to the cash flow there.