The disposal in the kitchen is damaged and doesn't work.

Slap some paint and clean them up sell at slightly below market - or new kitchen, bath and flooring which will cost around 50k each and swing for the fences?

I'm sure when you get there to do your inspection you'll find that he left his keys on the kitchen counter, took most of his clothes and left behind nothing but trash and old furniture.

I think he's blowing smoke, but he gave me permission to follow up with him in the future to see if he has decided to sell.Some responses to your various input: I did some heavy duty networking and made a new investor friend who has flipped houses and his day job is kitchen cabinetry.

He says some tenants trashed the units so bad that when he goes in, he has to put in whole new kitchens and bathrooms, and for some units, over and over again over the years.

I've got a great supplier/installer here on the Coast.I'm not familiar with the Magee market, but a quick MLS search shows no active rentals on market in town.I've learned the hard way on the BRRRRs, if you go ahead and do everything (within a reasonable budget) Roof, HVAC, windows, kitchen bathrooms, you'll save yourself time/money down the road.Good Luck!

Adding more bedrooms, new floor plan, new kitchen, floors, exterior paint, landscaping, and pool rehab.

we are building a building just like this in Columbus Ohio except vertical. we added kitchens and all studios and common commercial and mixed it in. multifamily is much easier to finance. we got a similar valuation. we don't have to buy 1 million dollars worth of furniture either. apartment hotels are what some people call them but we are underwriting affordable housing. we copied the hotel development rezoning applications in our market but went for multifamily and I had it underwritten at 15 million and we just had the number one debt placement broker look at it and appraise it for 20 million because they added a tax abatement. hotel development works because of the nightly rate and higher occupancy and no kitchens in every unit.

Like the dining room table, kitchen counters, living room tables etc.

When I bought my first investment property it was much easier on my real estate agent (and me) primarily because I had rebuilt the kitchen and bath in my primary by myself.