My accountant has a plan to buy 2-3 million apartment buildings for cash with 4 partners in precisely his area where he has the expertise and put the lipstick on them and flip them in a few months each.

I'm not talking about lipstick on a pig type of stuff that many "turnkey" providers in fact peddle, I mean real turnkey where this stuff has been addressed.

Usually they are trying to sell you a lipstick job reno at a 10% higher premium than the market because it is "easy" for someone like you who is remote to have management and a tenant in place.

A video is nice to see the exterior but it could be lipstick on a pig with lots of expensive issues hidden beneath the service. 

Your skills determine the extent of a rehab if you are doing it, begin with lipstick, curb appeal, decorating and repairs.

What should the property be worth if it was fully updated and brand new lipstick.  

We basically just put lipstick on it.

"Forcing cash flow" by putting in a large down payment is like putting lipstick on a pig.If I pay $50K for a place that rents for $500, its a bad deal.

I find that homes with out of the ordinary repairs needed are some of the best deals created as they "scare away" many lipstick flippers and open the doors for higher spreads for those investors willing and able to tackle them.

I would love to shine that place up...and as you look at the pics, structurely it looks sound (what castle isnt) just needs some lipstick and tlc.