We are now one week into the rehab as I type this.Current BRRR Numbers:Pre-closing Costs: $2,740Plumbing inspection (because the house needed to be dewinterized, $150)Home inspection ($525)Appraisal ($655)Electrical inspection (because power was off on the day of the appraisal, $150)CO and Smoke Alarm ($366.57)CO and Smoke inspection ($52.50)Rehab consultant ($840)Kitchen Appliances: $2,000 (estimated)Plumbing: $7,300 (estimated)Oil tank ($1,800)Water heater ($1,000)Chimney liner ($2,000)Re-piping as needed ($2,500)General Contractor: $32,000Roof replacementDrywall patching and painting of entire house (trim, wall, ceilings)2nd floor bathroom spruce-upClosing exterior door in master bedroom and finish sidingBuilding two closets in two bedroomsBroken window repairsWindow frame repairsScrape and paint area over bulkheadFinish floorsRemove and dispose drywall from basement spacesRear deck repairFront steps repairInstall handrail to basementFoundation masonry repair and paintingRepair cement stepPatch area of exterior trim near kitchenPatch two rotted window sillsCap extra basement doorFill in dining room windowAsbestos: $1,500Electrical: $2,000 (estimated)Closing Costs: $3,733Home Purchase Price: $149,000Total All In: $200,472Expected ARV = $250,000 (initial appraisal for rehab loan came in at $235,000)Amount I have invested in the deal = $50,000Expected Cash Out at 80% = $50,000The situation is still very fluid, as we still have at least three more weeks of the rehab in front of us, but the numbers thus far are still looking promising, despite all of the surprises.

It has 2bed 1baths, 1bed 1baths and a studio apartment.               2beds=$400 x2 =$800                   1 beds=$325 x4=$1300                  studio=$300x1 =$300                   13 unrented storage units $50eaSome of the current occupants smoke and have cats.

Urine or smoke remediation could cost thousands.3.

Jonathan has a good outline, but if there is no smoking or pets, I would add that.

They smoke, drink and probably did drugs at one time in their life. 

Holy smokes I would have backed out of this deal after the second missed closing.

I am new to the investor side of real estate, I have been a realtor and flipper years ago.As I am doing research, I have watched countless webinars of everyone claiming to have the best system or the newest thing, with great promises of thousands of dollars and early retirement.Are there any that are worth it and actually work, or are they all blowing smoke?

-Bring existing structure to code(electrical, smoke detector, window egress size, etc.)

Which means,  if no smoking is allowed,  and one smokes,  the others are to stop it or tell you.  

Real Estate Agent from BaltimoreI hope it will turn for the better, I own many houses and commercial buildings, in  Baltimore, There is no leadership here, these politicians condone not paying rent, they will not let you legally evict tenants for non-payment or will they let you evict squatters, smoking pot on the streets is OK according to AG, can't open my Nightclub or other walk in businesses.I have always been positive and enthusiastic about this town and investing, but the liberals in charge have beaten me down, never felt so negative!