I don't know if that person really spent __ hours doing paint touch-up. 

Additionally, this looks like a very attractive BRRRR given the price point and small touch ups that can be done.

•I still have to finish painting that living room fireplace white, and touch up little bits of the paint in other parts of the unit.

The two that require minimal work LITERALLY just need to be cleaned, and have touch-up painting done.

It's a double wide trailor and it's nice on the outside, might need a few touchups but it's a deal.

So even though I LOVE how creative you're being (I find creative investing very SEXY), let's analyze the deal as a deal:ARV: $399K (your number)Soft Costs: 5% Resale commission (in case buyer walks or can't perform), 7% holding costs (high due to 18 month hold), 3% Acq & Legal (around $58K)Rehab: Roof & Cosmetics: $15K Minimum (flooring refinished, paint throughout, upgrading appliances, minor touch up)Required Profit (mine, not necessarily yours): $30KNick's Max Offer: $296KNot enough juice in this one to keep tenant buyer happy.

I live 10 minutes away and been able to take care of anything that needed to be done between tenants in a day (replace vent fan, caulk, touch up paint, etc).

4) Owes = $12k, current value = $130k, ARV = $135k, needs $10k touchups **house = very nice and updated, rental possibility?

This make touch up work down the road easier, takes to decision out of it.

The HOA maintain the neighborhood well, even just did some touch up on the roofs and windows recently.