He earned quick money as a wholesaler, and I have a house to keep)Rehab cost: $20k (vinyl floor, interior paint, new dual pane windows, new toilets and bathroom vanities, lights, new landscape, new AC condenser, all done by handyman, spent some extra money for minor plumbing and electric jobs, hydro jet sewer lines, clean up attic (had mice), added some insulationTime spent: 3 weeks (two handymen for the first two weeks, one for the last week)Value after repair: probably around $440kJobs still need to be done later: some dryrots, roof work (it's tile roof, roof doctor quoted me $9k, handyman said probably $5k, home inspector said $15k you can get a new shingle roof.

Upgrading fixtures, adding modern tile, and improving lighting can make a big impact.

Think of this loan as a “bridge” that gets the property from where it is at acquisition to where it will be once you’ve changed the name, painted the cabinets gray, installed some subway tile, and renamed it The Judson at WaterChase or what the **** ever.

Avoid putting in cheap items and put in more durable - tile vs carpet, mini blinds vs faux wood, lights instead of ceiling fans.

(There is a price difference but suppliers have bridged that gap quite a bit due to popularity in the last ten years)Bathroom: Basic white subway tile to the ceiling for bathtubs/showers if surround is not desired.

I will need to do some minor updates to the property (painting, updating bathroom tiling, updating trims, etc) in order to get the property rent ready. 

That makes the steps look nice, but they do stand out as different.I prefer tile for bathrooms since they are more at risk of getting wet and having sitting water.

However, if you're talking about flooring, tile, cabinetry, electrical, plumbing, etc... that will add up quickly. 2) Did you confirm the market rents in several ways/methods?

If you are early in the project, you can often scale down other parts of the renovation to cover the cost, i.e. that terrazzo tile that would have been perfect is no longer in the budget.  

I had a property tented for termites, which broke some concrete roof tiles.