So the best solution is to buy a house needing extensive renovation for cheap and use that discount to change the layout when you bring it up to living standards. 

More than likely the PM wasn't aware of the costs as most PM's don't understand project management.

.## Strategies: Flipping, BRRRR, House Hacking- **Flipping:** Focus on properties that need renovation but have good potential for resale.

That being said, I had competing issues. 1) my wife and I are buying a new primary residence (much to my chagrin), and 2) in december, we bought a condo rental that is currently being renovated (a much lighter project) and that process is also a little stressful.   

@Jaycee Greene I think she said the purchase price was going to be around $380-385k plus an additional $50k for renovation.

For instance, structuring investments through a European company that acts as the buyer of the properties and handles renovations could be an effective solution.

Purchased on 2/1/2024 for $58,500, we invested $55,000 in renovations to enhance the property’s appeal.

Some situations where they (the projects) do not go the way of making the profit as you wanted, but there are still deals out there to be had.. 

@David YoungRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

My family also owned a construction company, so I have some experience in handling projects associated with real estate.