Needed lipstick.  

The property could use a lipstick renovation (paint, cleaned, new flooring in bathrooms, etc.).I do not plan on holding this property. 

It's WAY more profitable to find those off market deals, buy them, clean them out .. the ole "lipstick on a pig" method..and then market them to whomever you want, and however you want.

Unicorns still exist in Denver, if you know where to look. This was a quick project(~6 weeks from purchase to sale), and not a bad take for a few weeks worth of work.Purchase $215kCarrying Costs $4,200Fix Up Costs $15...

If the property were in decent shape (which it's not--I haven't been inside yet but it's a desert property that's been unoccupied for years, with dead landscaping, bad paint, probably in need of at least $30,000 of 'lipstick') it  probably would have MV of about $330,000-340,000.    

Needs more decorating, lipstick and small details, like light switch plates.

Not to mention you'll run into a lot of "lipstick on a pig" remodels that are overpriced in that bundle just because of its cap rate.

Don't just put lipstick and bandaids on the problems.

My primary rez was an REO that needed TONS of lipstick and mascara but luckily nothing too earthshattering (have a great inspector).

The agent says it’s a Cash Cow,but what if it’s just a Pig with Lipstick?