It's a 4bd home and the FMR puts this around $3,000.

Our lawyer told us this was the best way to protect the asset, and we closed the home under the series LLC.

Quote from @Collin Hays: I got a chance to read this over lunch today, and it really hit home some excellent points about investing in real estate. 

Make sure you’re working with a lender who has experience with 203(k) loans and a contractor who understands the program’s requirements.2.Loan Process Can Be Slow – Unlike a standard mortgage, the lender will be heavily involved in the renovation funds, which means more paperwork and potential delays.3.Strict Repair Guidelines – The work has to improve the home’s safety and livability, so luxury upgrades usually don’t qualify.4.Living Through Renovations – If you go with a Limited 203(k) (up to $35K in repairs), it’s usually manageable, but for a Standard 203(k), major work might require you to live elsewhere for a bit.It’s a solid strategy, just make sure you’re working with the right lender and contractor so things go smoothly.

So if all stars aligned and you were in it for $185k + 36k you are at $221k - just lost $1000.If it needs $75k in work I would probably be around $85-90k for that home.

.- What are home builders doing? 

I'm a licensed Real estate agent and investor in the state of Texas, focusing on buying homes AS-IS, as well as helping clients list and sell properties.

You can use a tool like AirDNA to get estimates of property performance in your specific market and with your typical size and configuration of home.

In some cases, after running the numbers, I’ve even faced potential negative returns, causing me to miss out on promising deals here in South Florida.That brings me to my question: I currently own two homes—one is my primary residence, and the other is a rental property.

Drive around your area and find homes that are currently being remodeled (big dumpster outside, several crews/contractors) get out of the car and see if the investor is there if not talk to guy in charge and network with them.