The second property will need 25k in repairs, and rent for 1350-1450 monthly.1.

It's pretty tough to find a quality carpenter as well.

I recently saw someone turn around a three-family property there by targeting tenents like teachers and nurses.. stable professionals who value quality housing.

I find that cash flow is very important so that I don’t have to come “out of pocket” to pay for major improvements / repairs  

•Tenants demand prompt, high-quality service and without caring about cost •Vendors seek to earn as much compensation for their work as possible.Balancing these needs requires thoughtful stewardship, strong communication, and a commitment to fairness.

And you need to keep detailed records of all repairs and improvements.

We are splitting up capital contributions at 50%, but see having different involvements in the repair process.

As others have stated, your fit & finish goals should be guided by whether you plan to:1) Rent: tenants don't always take care of a property, so you want to use lower-grade materials and workmanship.2) Flip: higher quality on workmanship and materials is usually required.Regardless, you always want to "Maintain to the Neighborhood".

Lastly is your listing details; they read with all the story telling and excitement of a furnace repair manual. 

After a bit of back-and-forth on the repair costs, I negotiated it down to $69,000, convincing them the extent of repairs was higher than they initially estimated.