I have a tenant who claims that there is a bad sewage smell coming from the master bathroom - making it unbearable to live in the condo.He just moved in there on May 1.The entire condo was remodeled.

If the property owner is a "long time childhood friend", then she may be willing to cut you a deal where she pays for the closing costs and/or she may contribute to any repair/remodeling work that the property may need.Once you move in you could house hack and start saving money so that you can acquire more properties. 

There's also the option of sweat equity if you don't have the capital to pay for the remodel: In other words, buy the materials and do the work yourself over time.

I've been thinking about this since I began working on remodeling the house and that was very helpful.

I've remodeled the rental interior.

We def have some McMansions that could be remodeled to add a second unit and this would save infrastructure costs.  

Another example would be the PM's construction arm is responsible for  unit turnovers and the owner has the PM  remodel the bathrooms as part of unit turnovers.

Purchase price: $220,000 Sale price: $232,000 Beautiful cosmetic remodel that I wholesaled in Grafton, MA.

As the units become vacant, then remodel and go for the higher rent. 

It's also not occupied now (as it's down to studs), so I have to get a short term loan for the remodel (4-6 months) then refinance to conventional commercial.