Over a weekend, with help from relatives, we gutted the interior.

Ask your contractor to walk the property with you if they're available during the showing, or at least send them the photos and information that you received from the wholesaler to get their opinion.In Pittsburgh a light or cosmetic renovation is about $20k, medium is $50k, and a full gut is $100k.

Or doing a full gut renovation on your property?

Purchase price: $630,000 Cash invested: $120,000 Gutted this property, brand new electrical, furnace, propane, finished basement to create separate unit.New garage with rental unit.

We follow a similar model as @Bill B. and with similar results, except our properties are from the 60s, so we gut them and rehab from the studs up, basically resetting the clock. 

In Phoenix, I rely on Pat Aboukhalen whereas in San Antonio, Dominque Leal has been a great resource.What’s your gut leaning toward?

Basically a small full gut with part of the work done already.

Sounds like their combined income likely beats your other tenants.Your gut is probably your best bet and you need to go with it. 

Each deal...good, bad, or somewhere in between...sharpens your instincts.

Ensure compliance with local laws, start with smaller loans to gain experience, monitor your investments regularly, and trust your instincts as you navigate this venture.I myself, as a PML.