I’ve developed a Comprehensive Investor Report (CIR) for a property in Palm Coast, FL, designed to be transformed into a luxury rental asset while serving as the foundation for a scalable asset management strategy.Here’s a quick snapshot of the deal:Property: Red Birch Lane, Palm Coast, FLCurrent Value: $350,000+Mortgage Balance: $165,000Current Equity: $185,000Investment Required: $177,500 (for luxury upgrades and optimization)Projected Monthly Rent: $4,500 with 2% annual increasesTarget ROI: Full 1.5x ROI for investors achieved in 9 yearsLuxury Features: Smart home automation, designer finishes, professional-grade kitchen appliances, and more.I’ve also structured a capital distribution plan with a waterfall approach:8% Preferred Return for investors.Full Return of Capital to investors before profit splits.Post-ROI, a 20/80 split (Investor/Management) ensures long-term alignment.

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?

My vote is invest in other markets where the money makes sense and then take that profit to visit whenever you like. 

Before taking out profits, make sure you have enough set aside for unexpected expenses like repairs, vacancies, or larger maintenance issues.

I am guessing you like the numbers you see in Strawberry Mansion and Norristown (Montco not Philly) but do you know for a fact that at those numbers, you can do a full gut rehab and be at a number that will allow you to profit, and along the way make some sizable mistakes especially if this is your first project . . . 

If not, understand the risk of taking equity to generate more equity based off your ROI.

Sell it for $220-240k rangeInvestor puts in $60-90k, Flips for $350-400k realizing a profit of $50-100k. 

Purchased for $139,999 using a mix of cash and hard money, we revamped it with modern updates, including a new kitchen, flooring, and fresh paint.The property rented for three years, generating steady cash flow of $450/month.

I do appreciate generating attention to the post for guys that might have some advice that isn't the obvious.

Are you still generating positive wealth when you count equity paydown by the tenants?