I also upgraded the cabinets, countertops, and added a dishwasher hookup.

Quote from @Kent Fang ching: Quote from @Taz Zettergren: @Kent Fang ching I work with a couple hundred clients that live in California and they're doing the same thing.

So if your using margin at let's say 12% interest rate, to do the mentioned S&P gaining at 8% or heck let's say 10%.... congratulations you just found a neat way to go a couple hundred thousand into debt.

You may save a few thousand dollars going this route, but may lose a few hundred thousand dollars if you are not dialing in on your strategy and numbers. 

But it should only be attorney cost, the deed and recording fees (few hundred) , maybe a final water cert.

Every month there is hundreds if not thousands of expenses for work orders.

Then an appraisal works to my benefit and the quality of the property would be very close (as I said the property I purchased had relatively cosmetic renovations such as painted cabinets).

Their fill hose sprung a leak or something and hundreds of gallons of water poured into the apartment below them.

Over the past eight years, I have collaborated with hundreds of out-of-state investors, helping them find cash-flowing properties aligned with their financial goals. 

I've already renovated one of the bathrooms, and I’m planning to paint the interior, update the kitchen cabinets, possibly sand the wood floors, build a fence is a corner lot and increase the rent for the room since my tenant is currently renting the entire 3-bedroom, 2-bathroom house for $800 a month.