Chris Connor here from [edited ] been in the kitchen and bath remodeling industry for over 20 years.

That said I am confident that we can purchase the places and remodel them and have the 25% equity needed for the refinance and pay off of the private lenders and the properties will cash flow or we would not keep them.

She thought that would be great and wants me to help her if I can.I confimed:She owes $205K to CitiMortgageARV = $170k-$180K (totally remodeled home right next door just sold for $180k)Repairs = $25k-$30kI need to buy it for about $100k and give her a couple grand walking money.So how would you approach this situation?

That is why you don't need additional projects with your first property such as remodeling and other responsibilities.

Most recent properties that I've found have sold much below our selling price because they are either bank owned or need a ton of remodeling (-$40K).

I have experience in construction and remodeling as well as property management but I'm currently working on building the capital needed to get into my own duplex or 4-plex from my personal home.

I've done minor remodeling on many of the places I've lived, just not to the extent I did this one.

It still needs the kitchen and bath completely remodeled before the property will bring the $50K.

We use podio to track our offers for flips and asana for tracking remodels.

I also had a company on the side doing construction which I was able to remodel a few historical warehouses and turn them into offices, remodeled a few historical homes and build a house ground up (designed, permitted etc).