Purchased for $139,999 using a mix of cash and hard money, we revamped it with modern updates, including a new kitchen, flooring, and fresh paint.The property rented for three years, generating steady cash flow of $450/month.

(Previous rent was $1,300 but we're about to put in a brand new kitchen from the studs, new flooring throughout the house, new furance, adding A/C, etc).So do we just pay for it all upfront and mostly drain all of our savings, or do I let the rent pay for it and utilize our other savings to get a second property this spring/summer to increase our cashflow? 

I have helped quite a few investors dispose of their 2-4 units this year and they have been cleaning house.  

Assuming this is a clean file, with no exceptions required, most Underwriters take anywhere from 48-72 hours to review a loan and get CTC, or provide further conditions. 

., paint, flooring)Medium Cosmetic: $40-$60 per sq. ft.

Take a look at Personal Property versus Real property coverage, plus clean up costs to make sure your covered.I would also look at covering your project from the Subcontractors. 

I would say to expect a floor rate of 6-6.50%

As we move into 2025, these trends are shaping how we approach renovations:Open Floor Plans with Purpose: Open concepts remain a top priority, but it’s no longer just about tearing down walls.

But at turnover you needed better paint and change out window coverings almost always.. change carpet every other tenant.. glad i had concrete floors in the main living areas..

Plumbing fixtures, light fixtures, flooring, cabinetry - everything you are using for the project should be found on these design boards.