Current rehab requires replacement of knob and tube wiring, adding multiple outlets and circuits, running power to garage; replacing galvanized piping, relocating plumbing, adding a half bath, removing old stack and replacing with PVC in a new location, installing new boiler.

After Repair Value: $200,000Closing Costs at time of purchase: $3,663Monthly Holding Costs: $1,601Interest Payments: $882Property Taxes: $539Electricity: $50Water: $30Insurance $100Number of months holding costs: 9Total carrying costs: $16,472Repairs $59,630 + 10% Contingency = $65,594 TASK UNIT Materials Needed Line Item Cost Asphalt Shingles Per Square 20 $4,400.00 Paint Exterior Per Floor SF 1600 $2,200.00 Install Sod Per SF 5000 $1,750.00 Roll-Off Dumpster Dumpster 5 $1,750.00 Full Demo Per SF 1600 $640.00 Natural Gas Hot Water Heater - 50 Gallon Per House 1 $710.00 Replace All Supply Lines Per Fixture 4 $800.00 Install/Replace Tub Per Tub 1 $750.00 Build Tile Shower Per SF 75 $1,462.50 Kitchen Sink Per Sink 1 $120.00 Bathroom Sink Per Sink 1 $70.00 Kitchen Faucet Per Sink 1 $90.00 Bathroom Faucet Per Sink 1 $70.00 Trim Kit Only Per Tub 1 $210.00 Install/Replace Toilet Per Toilet 1 $170.00 Replace Washer Box Per Box 1 $175.00 Replace Circuit Panel Per Panel 1 $800.00 Install Can Light Per Can 20 $1,300.00 Replace Furnace Per Unit 1 $1,800.00 Compressor + Coil Per Unit 1 $2,750.00 Frame Walls Per LF 30 $360.00 Loose-Fill Insulation Per SF 800 $800.00 Wall Board Per SF 1000 $1,160.00 Exterior Door Per Door 1 $800.00 Interior Door Per Door 10 $1,700.00 Replace Window Per Window 20 $5,400.00 Finish Trim Per Floor SF 1600 $1,200.00 Repaint Per Floor SF 1600 $3,600.00 Install Kitchen Cabinets Per linear inch 324 $2,754.00 36" Vanity Per Vanity 2 $460.00 Granite Countertops Per SF 40 $3,680.00 Install Solid Wood (Site-Finished) Per SF 1400 $9,100.00 Install Tile Per SF 200 $1,100.00 Permits Per House 1 $200.00 Refrigerator Per Appliance 1 $1,500.00 Range Per Appliance 1 $1,200.00 Dishwasher Per Appliance 1 $550.00 Microwave Per Appliance 1 $300.00 Washer/Dryer Set Per Set 1 $1,500.00 House Cleaning Per House 1 $250.00 Commission to Realtor at time of Sale 7% - $14,000Interest to Private Lender: $1,735Offer Price: $69,000Potential Profit: $32,500

Youd have to rewire or protect the circuits with GFIs.

I haven't done a flip without nice master features and am concerned that this will be the deal breaker for most wives or couples.

Went with a 2 circuit in one conduit all aroubd the whole small basement two feet high off the floor.Then recessed tapcons into 1X4(only full 3/4 thick straight lumber could find).

That was a long time ago...if you're watching any poker on ESPN this summer, you may catch a more recent glimpse of me -- I did pretty well in a recorded WSOP Circuit Event earlier this year...no idea if or when they're running it though...

Thick gauge is especially helpful where high currents are expected, such as circuits running the air conditioning, electric dryers, and entertainment areas(TVs, computers, etc.) 

In the course of some civil litigation my corporate law firm identified and was able to get me assigned the rights to a tax sale certificate and assignment of the certificate holders rights in the accompanying Circuit Court foreclosure case.

I agree that composite looks better, but it wont really be a deal breaker for tenants and really isn't going to add too much value.

For example - the tenant made a request to have 4 repairs made (air filter change, two light bulbs and a reset breaker)- they created a separate work order for each which created 4 separate service call charges and dinged me for .5 hours for EACH call as well.