Hello all,I'm a carpenter currently buying land lots to do new construction or extensive rehab work, specializing in Maryland at the moment(DC and Northern Virginia have to many end users paying retail prices for properties that typically would go to investors).I've done tons of commercial contracting (carpentry and millwork) and have a small cabinet shop but I'm moving away from doing much work for hire and focusing on my own projects.

Here's the details:Purchase Price: $62,000Closing costs: approx $3,000Monthly Rent ($725, unit 3&4 currently rented)Unit 1- 600 (2br) -newer cabinets and carpetUnit 2- 450 (1br) -newer cabinets and carpetUnit 3- 350 (studio)Unit 4- 375 (1br)Monthly Expenses- ($488, not including management or maintenance)Insurance- 83tax-138 water- 47 (total house-city won't provide separate meters) trash-18 gas-50 (owner pays gas for unit 3 and 4, 1 water heater for both units) electricity- unknown sewer-26 unknown (estimate based on local rates - 26)Maintenance ???

The kitchen counters, cabinets, and bathroom fixtures are good to go with just a good cleaning.

I have this dilemma right now, I have a rental in a nice middle class neighborhood, a 4/2 home, (Oak Park close to Berkley for the michiganders), probably can get $1,500 - $1,600 a month for rent, we are replacing the cabinets, granite and putting stainless steel appliances, the connection is for electric but have thought about putting a gas burner instead of electric, would you think it would be a good idea to turn it to gas?

Listing before putting cabinets and flooring in seems both risky and tempting.

I was deciding between changing all lighting, ceiling fans, bath hardware, or new kitchen cabinet doors, or the closets.

Keep your cabinet doors open in the kitchen under the kitchen sink as well as the vanity doors in your bathrooms; if it is very cold allow sinks to drip.

If they don't pay, I would take it out of their security deposit.I post signs in my houses inside one of the kitchen cabinet doors with some basic info, like how to contact me, etc.

Owner's daughter was going to rehab this, but after putting in new boiler, new gas line, cover original hardwood floor with cheap blue carpet, and hodge podge kitchen (with 3 different cabinets), she got tired and wants to get out.

Partially, to make the point that there are always those deals that do NOT fall in the realm of 'typical'.I recently rehabbed a house that I bought from a Professional Flipper who I have supplied cabinets and counter tops to (my day job) for many years.