I've spent seven months remodeling an STR in Canyon Lake, TX and will have it available for rent soon. 

For that reason, I focus on looking at investments with value-add opportunity, and thus turnkey properties are less attractive to me.My metrics, then, are typically if my purchase price, remodel costs, and holding costs are less than 70% of the After Repair Value, it's a good deal for me!

This house has been fully remodeled and truly embellishes the classical architecture of the build; including, hardwoods throughout, custom windows, masterful trim work, a beautiful fireplace, and more. 712 Lincoln is a true work of art that welcomes someone new How did you find this deal and how did you negotiate it?

I have several properties and have always done the remodeling and major renovations myself.

(But you'd likely be limited by HOA - as far as which days and hours you can make noise in it remodeling)If you do stick with the plan for buying in the Loop, and have access to cash, whether yours or you borrow.... family, hard money lender etc...

We remodeled 2 of the units and have done a substantial amount of work around the property, and we have roughly $270,000 in equity. 

There isn't going to be much of an opportunity to improve the value of a new build through a remodel so unless your discount is something along the lines of 20% or better, this may not be a good fit for the BRRRR strategy but that doesn't mean that it isn't a good opportunity for a different strategy.Just thinking out loud, maybe it could be a good fit for a lease option or rent to own play.

However, its hard to really make the numbers work, and you need to be able to handle a remodel. 

I would really like to have a bathroom and kitchen remodel completed before the end of April, and further down the road would need a detached garage built.Thanks all!

I lived through the remodeling and it wasn’t fun.