In the world of remodeling, accuracy matters, even in spelling!

For a fix n flip, if your purchase price is 500k and 200k is the remodel, what is your monthly payment on the 6 months of rehab?

If the property owner is a "long time childhood friend", then she may be willing to cut you a deal where she pays for the closing costs and/or she may contribute to any repair/remodeling work that the property may need.Once you move in you could house hack and start saving money so that you can acquire more properties. 

There's also the option of sweat equity if you don't have the capital to pay for the remodel: In other words, buy the materials and do the work yourself over time.

I've been thinking about this since I began working on remodeling the house and that was very helpful.

I've remodeled the rental interior.

Another example would be the PM's construction arm is responsible for  unit turnovers and the owner has the PM  remodel the bathrooms as part of unit turnovers.

This is a good time to open up the place and make it 'great room'.IMO, this is way more than $40k Rehab cost...you're almost doing a complete 'to-the-studs' remodel here.....Hint - you'll need to run a ground to every outlet and switch, plus adding a lot of outlet locations and in some rooms it will be easier to just demo the drywall.

We def have some McMansions that could be remodeled to add a second unit and this would save infrastructure costs.  

Typically Investors complete a 1031 exchange out of active ownership/management into a DST because they are looking to defer capital gains and stay in real estate to build their wealth but are tired dealing with tenants, trash and toilets.