My other option would be...Purchase $135,000Rehab $17,000ARV-$210kNet After closing cost-----$47kThis renovation would be about a month, and do just simple thing to get it financable like roof, new texture/paint, new floors, trim and doors, dump fees and make sure all electrical and pumbing is in good shape.

He apparently refused to sell his private jet to fix his financial troubles as well. https://pagesix.com/2017/06/20/johnny-depp-refused...It will be interesting to see how this plays out. --- The Management Group (TMG) filed a motion Monday to foreclose on five of his properties in Los Angeles in order to cover a $5 million loan the company says it gave him in 2012 to cover a City National Bank loan.TMG claims it took out the loan to cover Depp’s debt and save him from bankruptcy.

We would always be putting an entire coat of drywall mud over top of whatever we ended up with after attempting removal whether it be a thick full texture or sanded smooth.   

Right now, I'm getting leads for Jet, H&L, and New Western but I'd like to expand that as much as possible.

Most of the grout against the wall appears to be "hard grout", but there's some areas where I assume some sort of caulking is used instead, where I can feel the texture of it is softer.

Cara this is where many people who start in real estate then decide they want to sell their rentals and if their rentals are in a non appreciating market.. the investor can end up selling for what they paid for the property lose money on the sales commission then have to pay tax on the recapture... so once folks start loading up on rentals they need to understand if they buy in historic non depreciating markets exit is tough.. and you are in the for long haul  IE give the properties to your kids or heirs at step up basis.this happens to us who buy airplanes big time.. you go to sell it and like a used car a used airplane will drop in value about 30 to 50% then hold for many many years.. so when you buy new and take that great accelerated depreciation you need to recapture it and its a huge hit.. ergo you trade up and buy a JET thats why there are so many private jets.. 

I'm wondering from a cost/benefit standpoint, would it be better to just leave it in there rather than incurring the expense of ripping out drywall, rebuilding a basic but nice brick fireplace, then hanging new drywall, taping, texturing and repainting?  

I farm out the electrical and texturing.

in 1 of the 2 claims, we had to pay our drywaller to strip the stand of the old water-damaged drywall that was on it, and replace it, texture it and paint it prior to the water heater guy coming to replace the new one. 

Monthly Expenses = $2800 Per Month: Current Management Team = $1000.00Insurance = $224.00Real Estate Taxes = $92.00Fiber Optic High Speed Internet = $89.00Cable TV = $52.00Trash Dumpster = $55.00Sewer / Water = $186.00Natural Gas (average) = $142.00Electric = $327.00Housekeeping = $270.00Ongoing supplies = $230.00Maintenance = $133.00Total Renovation The renovation started in 2011 and was completed 2016 with entire complex being gutted to the studs, then completely rebuilt fully furnished inside and out to new standards, as follows: 26 gauge top of the line triple epoxy coated metal roof26 gauge top of the line triple epoxy coated awning and patio coverSingle hung gas filled energy efficient EZ clean vinyl tip-out windows4 new natural gas water heatersAll new plumbing throughout entire complex/buildingOnly #1 Grade Premium lumber was used throughout entire renovationQuality Price Pfister plumbing fixtures and lifetime parts180 feet of new 4 inch sewer line from the building to the street tapNew premium exterior fiberglass dimensional Colonial style entry door with new door jams, aluminum thresholds, all new lock sets and peep holesCustom picture framed windows with decorative edging and exterior door trim to matchCommercial toilets: all new PEX plumbing, shut off valves, bullets, supply lines, hose bibs, angle stopsNew attic and wall insulation with vapor barrierUpgraded electrical, HE lighting, new fixtures, switches, outlets, breakers, energy efficient lighting, vapor lights, rope lighting and HE flood lightsCustom artistic signage (3) built by Management TeamNew drywall, texture and highest quality Valspar paint throughoutAll exterior wood was hand primed and hand paintedNew vinyl fencing for corner lotPremium Quality pillow top mattressesNew hand textured walls (office), ceiling and covered entryNew concrete sidewalks, kitchens, baths, showers stalls, toilets, vanities, cabinents, counter tops, sinks, refrigerators, microwaves, deep freezers, dryers, A/C units, flat screen TVsAll work has been documents and permitted