I'm just having trouble making the contracts and would like someone to walk me through my first deal, if you have knowledge and spare time.

Let me walk you through some general numbers on a property we recently handled in Tucson.We purchased the property for $225,000 right off the MLS, but at a significant discount.

The main house is completed and as far as labor, I spent $40,000 on just labor and that includes everything from full gut demo to finishes.We are talking about a 4BD, 3BTH two story 2400 ft.² home with a bonus room.This was a full gut job, replaced…12 Windows (new construction)2 sliding doorsTook out all carpet throughout.Took out this ugly 2” thick tile from half of the downstairs portion.Removed popcorn throughout the entire houseTook one wall downA little framing workReplaced entry door 80” x 92”Drywall patchingSmooth drywall work50 recessed lightingAll electrical neededAll plumbing neededNew cement walkway instead of one walk to the front door I created two steps with two lights in each step.Install kitchen cabinets, excluding countertopInstall all three vanities3 bathtubs with one being a modern standalone tub in the masterAll tile work (bathroom wall & floor, kitchen backsplash)Installing of all hardware, faucets, showerheads, etcInstalled 8 single panel doors with hardwareAdding self-leveler after tearing out that thick tileNew LVP flooring throughout the entire house except bathrooms,all baseboards, trimsPainting the entire house, painting all the doors, painting the outside trim.Reframing the outside balconyReframing the fireplace to install new linear modern electrical fireplaceand they took care of the two trash bins.I mean, completely redone.The only thing that was not included in the $40,000 is landscaping, counter top cut and install and of course the ADU which I’m currently working on now.So my question for my fellow investors and contractors did I pay too much?

Because I caught it when both parties could walk, my damages was inspection, appraisal, etc.  

It is based upon the teammate that walks you through the process.

If I had been prepared I could have walked away with a steal.So I sit there today for over an hour while property after property slides by with no interest.

I'm looking to get into the medium-term rental space and I've found a property that fits all my criteria - it's a turn-key 3 bed 1 bath (one bedroom is on the smaller side so I plan to make this more of an office space), located just a 5 minute walk to the largest hospital in the area.I have 2 bedrooms and I was wondering if it's possible/viable to rent out my unit by the room to travel nurses?

Yeah I’d say but not something so heinous or odd that I wouldn’t atleast walk them through if your doing group tours of the unit .

We all offer them but it depends on if you need to have a walk in branch in your neighborhood or for traveling.  

Only thing I need now is try and decrease the amount of time it takes me to walk through a property and populate the data.