I don't know the quality of rehab but assuming they are complete overhauls and not just lipstick the numbers are good.

Jeremy you are only projecting 25% annual expenses for your cash flow before debt service.What I take issue with on these types of deals is terms like "recently renovated".Putting in cabinets and floors and pain is just lipstick.

Seasonal income is a pain in the butt; no point in putting lipstick on a pig.

It shouldn't take long to do, because it's mostly just lipstick....Sherwood is going to be more involved and it is double the sf..

We generally do BRRRs in our area, and I try to find something that generally needs lipstick.

Some are putting lipstick on a pig, and some are genuinely trying to provide an excellent product.

If I am selling it for "them", I can give them a note, take title, rehab, add lipstick or not and then sell it (oh, wait did I just do a wholesale deal, gosh, hope I don't need a license to just buy and sell.......) they get paid off at closing.Bought a rental portfolio with 100% SF, broke the package and sold off one at a time.

Is it more of a lipstick job or total overhaul??

I would suggest only doing a lipstick Reno, cosmetics only...repair and paint.

Are you looking for a full studs deep remodel, lipstick, or the carpets and paint?