Buy a place that's ready to rent or just needs a few touch ups in a more rural area.

The house is going for 66k, county appraises it at 76K but the ARV is about 83k once I spend about 5000 in upgrading the AC and finishing some minor touch ups.

The house is going for 66k, county appraises it at 76K but the ARV is about 83k once I spend about 5000 in upgrading the AC and finishing some minor touch ups.

The details are as follows:Current Price: $370,000My offer: $320,000Condition: House is in rent ready condition but I have added $5000 for touch ups here and there2 Family House with each unit renting for about $1300Insurance/yr: $700Taxes: $11,500/yrLoan: FHA with 3.5% downpayment (30yrs)Here is a link to the analysis that I did as well in case that helps, this is analyzed with both units rented out to know whether the investment is sound, even though one will be my primary residence:https://www.biggerpockets.com/calculators/shared/2...Please let me know if I am missing something or if these other investors are offering too much.

A simple fix and flip; clean, landscape the yard (in Arizona that means spread some gravel), a couple new light fixtures, and touch-up paint.  

$500 is a lot for a touch-up if it was a painted surface.  

I would encourage you to rent it and refi it, if you sell it a year later when tenants are in and out you can sell the property again and just do minor touch ups, and guess what?

The Property:2 family property,  864 sqft both units, 1860 yr builtunit 1 is  3 bed 1 bath, and rents for $1275Unit 2 is 2 bed 1 bath and is not rentedCurrently one unit is rented out for $1275 but all utilities includedList Price is $119,000, been on the market for 162 daysI havent been to the property to see it in person but cosmetically the pictures look very good - one unit has some updates (new kitchen and appliances) and the other might need some touch ups but looks well maintained.  

If a tenant moves out, hire a broker to rent the place again and your handymen can complete any work or touch up paint in between tenants.Hope this helps you!

hello everyone,I've recently made two offers on short sales, (they both happened today)as they looked like good deals when i quickly ran the numbers, so i made offers on both as things are going crazy fast here in vegas and i thought it was best to submit an offer then have the option of turning down the deal if it wasn't a good one.after using the rental calculator one cash flows for 90 and the other for 60. and this is without me allowing for cap x on either, the reason for this is that ones a town home and the other is a condo, both with good hoa's, i did allow 5% for repairs which i think is a lot as the condo has just been totally refurbished and the TH was in good condition and I've allowed 1500 for touch ups, so it'll also be like new after I'm finished. my thinking was that this 5% would cover both repairs and cap x as there shouldn't be much in the way of either. is this a terrible idea for me to allow so little for both.i would be waking in with 25k of equity on the TH and thats without my 20% down payment. and with the condo id be getting around 13k.here are the rental calculator results for both-any help would be greatly appreciated!