Purchase price: $89,000 Cash invested: $33,422 I'm active duty Navy and this is my second rental property.

I pay the cost of the permits.To demo the whole house - $3,000 plus I pay for the dumpsters.New Roof - $3,000 Waterproof basement - busted up concrete and installed french drain system  fed into sump pump (kept existing sump pump) and water seal paint the inside (no outside work) $5,000.Frame whole house - $3,000 (basically basement and main level.. upstairs didn't really change)Drywall - delivered, hung, and finished - $32 per sheet he estimates 120 sheets needed ($3,840 total)Insulate all walls and attic - $1500(*) Rough electrical including permits,new panel & wire - $4000  (outlets, switches, cans, fixtures, etc. additional)(*) New duct work - $4,000 ... seems fairly simple with the house demo'd and being such a small house. 

Their vision was to have a farmhouse/french country like kitchen in their new home and value of course.

Record of steady income, able to save a lot of money to be able to move quick on deals, staying very connected with the military community (job works for the Navy).

That's a fancy French term for a very simple concept -- the landlord getting rid of the property can be expected to lie or misrepresent what the rents are, what security deposits s/he's holding, what the terms of each rental contract is, etc.

We just spend nearly $50K in rehab which included a new breaker box, remodeled both bathrooms, retiled kitchen floor, retiled screened in porch floor, replaced cast iron plumbing with PEX and put in a french drain. 

I'm originally from Eunice, LA, but I moved away years ago and am currently Active Duty Navy stationed overseas. 

My Story...I am an Irish - French Canadian immigrant son from Arlington, MA, Mom from So Weymouth, Dad from inner city Irish Dorchester.He used to tell me of the Irish gangs in the 40s and and 50s, before it is now.He showed me a photo, black and white, on a bar NO DOGS OR IRISH ALLOWED.He broke out of that by getting to med school. 

I'm fresh out of college and just got down to beautiful Pensacola to start training with the Navy. 

My realtor says to use an industrial dehumidifier, but the waterproofing company says it needs french drain and concrete floor with waterproof wall covers.