I have done a lot of upgrades and reconditioning over the last 9 years of ownership. ( new roof, new a/c , tile floors, new energy efficient windows etc... ) I am thinking about finishing up the remodeling with the cash from the refi, and using the rest on a down payment on a new house and renting my current house out.

Hi all, i would like some help on what to offer on a 32 unit complex (my first).The property is located in a very good area with much sought after school district, built in 1965, 12 two bed 1 bath, 20 two bed 1.5 bath, but current owner did many improvements including, windows and doors, metal roof, plumbing upgrades, repaving, pool reconditioned,flooring, cabinets etc. the only capex i could spot on walkthroughs was the 20 ac units not replaced(recently).

Sec 8 is probably willing to pay $850 for it (all cold flat prices), but I'm sure it would need some reconditioning, should he leave. 

My benefit would be less turnover, less agent fees, less gaps in rent, less reconditioning costs for new tenants, that would easily add up to $2000-3000 vs $1200-$1600, but most importantly less stress and risk of getting a bad tenant.  

For basic houses like this I'll just throw out the idea of reconditioning the existing counter tops with stuff in a box for about $200.

It was not reconditioned and would not be able to sell for more than 30k! 

Now, I just buy reconditioned units around half the price.

Risk you would have to recondition it before sale. 

One time he bought a weed-eater at Big Lots (kind of a junk version of Wal-mart), and it was a reconditioned one at that.

I have found too many surprises while reconditioning a rental to not take the 30 days.