I’ve focused mainly on Florida but have also looked at options in Sacramento and other slightly more remote locations in CA.While I’m familiar with value-add strategies (ADUs, renovations or storage rentals), these seem like heavy lifts for modest gains.

I've already renovated one of the bathrooms, and I’m planning to paint the interior, update the kitchen cabinets, possibly sand the wood floors, build a fence is a corner lot and increase the rent for the room since my tenant is currently renting the entire 3-bedroom, 2-bathroom house for $800 a month.

Fortunately, even though I'm a newbie still in setup mode (working through renovations on a value added property) I'm already starting to recognize the right answers before reading the responses, thanks in big part to many of you.

Quote from @Makan A Tabrizi: Quote from @Bruce Woodruff: Quote from @Makan A Tabrizi: I'm renovating a studio apartment with limited space.

This approach will help minimize the potential financial risks associated with renovations and working with contractors.

If I finance the renovations, I would be able to keep that rate.

We’re currently working on a complete renovation in Silver Spring, so feel free to reach out if you need any assistance or guidance—I’d be happy to help!

I have been in construction/rehab/renovation most all of my life so I have that covered.  

I’m open to talking about the renovation process for fix and flips or BRRR properties.

I want to refurbish the entire house, including a complete kitchen and baths renovation, add an addition on the east side, new roof and siding, new flooring everywhere, paint inside and out"Then ask the GC to go over and put this into a more formal document.