Depending on how many you go through, heaven help you if you have that, in addition to a major expenditure (i.e HVAC failure, roof) For people with not great cash flow, you wipe out yearly profits every time.

after about $550,000 in remodel costs we reopened the wash under a new name with new logos and branding. we introduced targeted online marketing ads, negotiated wholesale pricing deals with local car dealerships to offer a year of free carwashes with the purchase of a new vehicle. created a monthly newsletter and sourced emails from local businesses. all in all I would say we double or tripled the bottom line numbers of the business in six months and boosted google reviews thru the roof!

Land in michigan is less than in texas , north texas.I will give you examples on cost differences.Material prices are the exact same price if not a little less.texas framing price per sqft $2.00plumbing $9500hvac $9500concrete Labor only $2.00 per sqft  Concrete $180yd 5 sackdrywall $10500Electric $8000Ok here are the michigan prices , better sit down.framing $13.00 sqftplumbing $25,000hvac  $20,000concrete is about the same for materialdrywall $20000electric $25000Both quotes were for a 3/2/2 home with 6/12 roof hipPeople in michigan wonder why houses are so expensive , its because of the sub contractors.The plumber only has about $5000 worth of material to do a whole house but yet there still asking for $25000

One other thought, how old is the roof on your rental?

We don’t have basements, or foundation issues, the tile roofs last “forever” so there’s almost no reason.

It even has brand new windows, roof and HVACAsking price is $470k.

We opened it up, made a nice kitchen, changed the flow of a bathroom, new floors, paint, roof, and deck.

The roof, HVAC, plumbing and electrical are done. 

We both have some home repair skills, but would likely need to hire out larger work such as electrical, plumbing, roofing, siding, etc.Thanks for the help!

New roof, new siding, concrete patio, retaining wall, deck, windows....made it look nice.