Why is this a complete gut job? 

There are a lot of old houses in need of work on Zillow in the Bronx and I'm curious if anyone has any idea of how much (relatively) I could expect to pay for a gut renovation of a multi-family in the area.

I have some thoughts on it, but wanted to see what more knowledgeable folks had to say on the matter.Numbers: Here are my numbers on the property sale: Sale Summary: Agent's comps and market analysis seems good (I've lived in area for 15 years, so passed my gut check), so I could close this property out & should get a ~$10,000 check at closing.

I can do a lot of it myself, but need to completely gut the kitchen so I’m not sure if there’s a lot of room for profit there.I had originally intended to just live in this house so I didn’t look at all of this before I purchased it. 

If you want to make it work though, my first instinct is to make it a central hub for your town (I don't know if this is possible given the location) by reaching out to your local farmer's market, church, local craft Facebook groups, etc.

I put new tile flooring throughout, added a closet to make a 3rd bedroom, new appliances, new paint, new counter tops, refinished cabinets and added new hardware, gutted and updated bathrooms, landscaped outside plus lots demo, fixed a roof leak, sheet rock work ect.. for $13,500.

Depending on the crowd and my gut feelings I've been the first bidder, the last bidder, and every strategy in between. 

6% Assignment fee included.This home has been completely gutted and needs a lot of work in the interior, roof, foundation.

Super Rough numbers: 9k kitchen2k bath5k exterior3k electrical8k bedrooms/hallsBiggest costs were: paint, all new flooring (except garage conversion), gutted kitchen, new electric box.

My gut tells me a lot is left off of that screen shot on your blog post.