Simplisticly speaking my rate has to be 5% for the next 5 years for it to be a wash (I saved 1% for 5 years with ARM and lost 1% with ARM over next 5 years).

So, he called his electrician who gave him a couple ideas, and he said he'd be back the next day, which he was.  He

But it should wash out pretty good.

If I rent to travelers I will need to have it fully furnished, which I estimated would be another $10,000 to $12,000 when you figure everything from wash clothes to beds and couches.

Was looking at laundromats, and turns out customers prefer them in strips with a dozen stores, rather than smaller commercial properties or free standing ones where they can do something while there clothes are being washed. 

I had high gloss paneling in a house and washed it with TPS before painting to get the paint to stick better. 

Its pretty cool.. but I could talk to 50 wholesalers out there and 49 would never take me up on it.. they are brain washed  LOL 

I've received one bid for $15,000 to fix the gutters, power wash, replace wood rot and paint, and trying to collect more bids.

But if it's just a house for you to live in, not an investment, then financially speaking you can't do better than living for free since the home you live in generally tends to be a wash or lose money when you factor in everything - maintenance, furnishing, repairs, etc. 

The way that was structured was he found the deal, he  hired the contractors to do the rehab and would be the one to go over there.