Purchase price was 145k and after a 15k rehab the current estimate is about 220k.I’m currently remodeling my primary and once that is complete I will have about 250k in equity.My minimum goal for cash flow from my portfolio once I leave my job is 5k a month as I have a side job already in place.

The property is paid off, fully remodeled and has a tenant in place whose rent exceeds the monthly loan amount.

I had an HVAC coil, light bulb and toilet handle replaced in my condo in the last 10 years.

I added value in 2 ways, by remodeling the home, and letting time provide me with rental appreciation, so by the time I was ready to move on, the rents in the neighborhood had gone up substantially.

We did a light remodel and posted it for sale based on what other comps sold quickly for in 2023.Very little interest so we've continually lowered the price.

My wife and I postponed it to get our current property remodeled, rented, and cash-out financing completed. 

What I do to decide if I am going to remodel/update the property is pull a list of rentals with in a mile and see what they are renting for un remodeled vs remodeled or partially remodeled to see if it makes sense to put more money into the property.

When we bought ours we had to kick out all kinds of problem tenants, but we remodeled them nicely and are very strict on the type of tenants we allow so everyone feels safe and comfortable living there.

However, by doing so, it reduced my cost of living by over $600 a month, and I was able to purchase a fully remodeled property that allowed me to market to the highest quality tenants in the area, and I had a 2 year lease signed before my first mortgage payment was due.  

However, the downstairs bathroom has sewage coming up out of the toilet and all over the bathroom floor.