We deducted the cost of cleaning the home, the carpet, and some other drywall and paint damage to the property. 

Renting to Section 8 Long-Term TenantPurchase Price = $237,000Renovation Cost =$8,950Appraised Value = $310,000Monthly Rental To Section 8 Tenant = $3,215Monthly Mortgage Payment = $1,890Monthly Reserve for Maintenance and CapEx = $200Monthly Cash-flow = $1,125Another investment property was closed and added to my rental portfolio.

Sometimes, unseen issues (like major repairs) end up costing more than the discount you negotiated.Final Thoughts•If there are no major rental restrictions, and the numbers work based on rental comps, this could be a great first investment.

There was no chance of seller financing, and the cash investor price was too low for the sellers.  

I personally made these repairs at a total cost to me for $150.

Also curious what the cost is. 

Am I more likely to be able to add $50k or $100k of value above cost in a high Cost RE market or a low cost RE market?  

In moderate- or low-resource areas, developers also need to hold a public meeting within 45 days to gather feedback.

You'll want a PMC that will check on the property monthly or even weekly, to keep the college students obeying the rules.This management may cost a bit more, but is well worth it!

We're incorporating the prop taxes & POS costs into our overall calculations.