Any valuation must evaluate the expected value after value add as well as the risks in achieving that valuation.  

My friend wants to include me in on this so we can both achieve financial freedom together.The plan currently is to take out a personal loan together for the $20,000, put in $5,000-10,000 worth of work into the property to make it livable as soon as possible, move into the property ourselves so we don't have to pay rent anymore, and then refinance as soon as possible.

They went out of style for a while because everybody was doing them.

@Damion Brown You can definitely do a nice project in this budget and achieve $1600-$1900 rent.

@Christian Styles Thank you so much!

It's fantastic that you have clear long-term goals to build your real estate empire and achieve financial independence.Wishing you a successful and fulfilling real estate journey!

I will have you know that painting wood floors is not "just painting them".It's a European style wood floor.

From securing the best financing options to planning for future growth, my goal is to help you achieve financial success through smart real estate investments as a loan officer.

I believed this forum to be people that share ideas and experience to help other achieve financial goals with real-estate.

It truly is the best way to achieve generational wealth.