The lot shows the existing building envelope next to the proposed renovated floor plan and square foot addition. 

Here is my short list:Overestimating the After-Repair Value (ARV):Investors sometimes overestimate the future value of a property after renovation.

A lot of renovated properties going for 220k+, and on the flip side, most priced 150k-175k require a decent amount of renovation. 

Purchase price: $1,250,000 Cash invested: $260,000 Sale price: $1,840,000 Coastal Dream Home - Renovated with ADU Plans!

You are probably priced too high and think your renovation is better than the public thinks it is price wise.

I know it will not be 100% accurate, but I want to be able to have a range in terms of prices for renovations, just from eyeing the property myself.

We moved into fixer houses to renovate and then moved out and turned the house into a rental.  

We had a 24-unit property where we didn't want everyone to leave at once, but we had rents at $700, we could get $1,000 on the market, and we could get $1,200 if we renovated the unit.

We will renovate all 4 units and then rent the units out.

After some research, I'm thinking it would be a good opportunity to proceed with the offer and to set aside the "free" money for use for repairs/renovations and holding costs to have some extra cushion.There seems to be much debate on the use of credit cards in real estate investing, but considering my circumstances .. 1.