-Allows you to pull equity from the property to fund the rehab without stretching your finances.If you'd like, I can walk you through the details and answer any questions to see if it makes sense for your situation.

When we did the walk through guess who they asked questions to? 

We did a site walk with a guy recently who is building cabins in pigeon forge and he really liked Logan and we showed him land sites to build them out here.

ALWAYS ensure the contractor walks the property with you or the realtor and a CLEAR scope of work is defined.

OP have someone walk thru the calculations with you.  

Imagine my surprise as I walk up to this structure, thank god I was "awake" enough to be able to notice this beautiful piece of Architecture:The enigma that was Roark hopped out at me in real life in the form of his temple, in reality it was designed by Frank Lloyd Wright.

.- Flooring, this is cosmetics that you have already seen when walk-in so it has to be part of your original price.- Appliances, same than flooring.Remember that in real estate everything is negotiable, and during the option period you have the unrestricted right to exit the deal.

Areas that you wouldn’t want to walk through at night years ago have houses/buildings selling for well over $500k.

Double or triple that suckage for anything less than C+/B-   If you wouldn’t be willing to walk there from a couple blocks away at 10PM, that’s a hard pass in any market. 

Key is call either the treasurers office or assessors office or even a realtor in the area and have them walk you through the calc.