Thank you all for sharing, and I hope to pay it back one day as well.We currently own a row home.

Maybe it's like labour - after such a beautiful day as we had today, it is pretty easy to forget all the bad stuff.

And honestly looking back what I thought was a good idea was not.One day a friend of mine told me to check out the Bigger Pockets podcast, fyi this is true and I have no affiliation to BP.

I am about to graduate college and noticed one day a house for sale by the owner.

If it rents for $900, sells on the open market for $94k and needs many thousands in updates, I wouldn't touch it for more than $80k but others might do it all day. A

If it exceeds service life the CAPEX will cover it when it needs replacing.Carpet wears out over time (that is what tenants pay for (shelter and wearing things out), it's fresh when its new and at every turn you need to think about if it will bring market rent when you re-rent it and also bring market rent for the average length of tenancy you have for the unit (how long your new tenants typically stay).If the carpet was a year and half old when he moved OUT and in that condition I would consider that Fresh carpet and charge the full amount for it if it needed replacement.If older than that just do the math from day one, to move out day, as a percentage of service life left.

So, we just rented the unit and called it a day! As

You always begin that process the day a tenant is late to protect yourself.

On my first rehab, I listed without any time frame and accepted an over asking offer on the first day. As

October 1st is just a good a day as any to start.