Purchase price: $185,000 Cash invested: $106,000 Sale price: $394,100 complete interior renovation, merged two bedrooms to create master suite and vaulted ceiling, opened main floor so living, dining, kitchen and foyer all connect, in floor radiant heat (important on lower levels in Wisconsin) and custom vanities and tile in baths.

Nothing special, just a durable white color that won't get scuffed up with high traffic/renters.2) Handyman - someone who can fix a few small things eg: closet door, sealing tiles, grouting, etc. 3) Property manager - I live too far away so won't be able to head to Seattle to manage the property, finding a tenant, etc.

@Jeff PratherWell They now make fancy tiles that will fit right in to replace those cheap textured ones .

Generally, materials are broken down into two categories:Rough Materials (lumber, nails, screws, brackets, piping, fittings, mortar, wiring, outlets, switches, drywall, etc.)Finish Materials (tile, grout, flooring, paint, light fixtures, plumbing fixtures, door knobs, etc.)The way that I structure my contracts is that I buy the finish materials and have my Contractor provide all rough materials.I think it's strange your Contractor wants you to buy piping, brackets, etc, because I would classify that as rough materials.There's no way I would ever want to be responsible for buying all of the piping, fittings, elbows, p-traps, etc for my Contractor...I would be at Home Depot all day buying and returning stuff! 

Appraisers don't generally care about cosmetic items, it could have the ugliest cabinets, counters, tiles etc as long as they function.

Buyers will notice, however, if the tile looks like it’s falling off the wall, or the cabinet drawers don’t open properly.

You will love the gray tones throughout with fresh paint & trim, porcelain tile-hardwood look, carpet, fixtu What made you interested in investing in this type of deal?

As long as the asbestos is in the walls or encapsulated in the floor tiles there is no health risk.

Invested additional $25,000; new windows; Kitchen remodel - granite counter top/ tile floor/ stainless steel appliances; Full bath remodel to the stud.

Positives of the House: Amazing updated high end kitchen all stainless steel appliancesNew RoofCan lighting in all bedrooms, living room, and kitchenHigh End basement bathroom includes Jets in shower wall and Heated tile floorNew Central ACNew FurnaceNew HVAC ducting throughoutNewer Vinyl SidingNewer guttersMany newer vinyl windowsNewly wired for gigabit speed ethernet in all roomsOpen cell insulation on second floor roof (solves all cape cod style home problems with ice damming)Nice landscaping both in front and in backGreat curb appealFenced in LotFull BasementOpen concept living roomVery low taxes compared to rest of Lake County IllinoisFinished will have 2 full baths, 3 bedroomsNew copper plumbingNew Natural Gas pipingAll Capital Expenditures are taken care of!