In which I have just finished remodeling.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $8,000

Cash invested: $20,000

In 2013, I decided to put much of what I had learned from books into action by purcha...

The city board of adjustment meeting was held today and we presented our case and explained that we made huge investments into the home to remodel and furnish it with the belief that we would be able to operate it as an STR since we had an approved permit.The Board denied my request and did not take any responsibility. 

Borrowed money from friends and family to pay cash for the property as the bank would not finance it until it had been remodeled, made livable, and brought up to code.

., paint, flooring, or perhaps a kitchen or bathroom remodel), buying it at a decent discount, and putting down at least 25%.

They offer a $10K repair fund to fix damages in addition to SD plus warranty for appliance repair etc.I have no say in whom they choose to move in, whether there are animals, limit on # of occupants etc. they reserve right to inspect property so i have no idea if they can tell me to remodel, paint etc.does this make sense i have a vacancy coming up in October (bad rental timing).

First, they allow you to make lower payments during lean times, such as during remodeling, vacancies, or when you need to qualify for a loan before completing a renovation.

Should I buy it and take  500-600 less profit per month knowing I can sell it for a large profit as is or even more if completely remodeled?

Would it be better to do some remodeling and deduct those costs from the sale proceeds, or should I foreclose and sell the property "as-is"?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $8,000

Cash invested: $20,000

In 2013, I put my knowledge into action by purchasing a two-bedroom home for $8,000 a...