.- New washer/dryer (hookups fine) and pantry shelves- New french door to patio- New fireplace (direct vent, upscale)- There are plenty recessed lights, but "statement" light fixtures need to be replaced (kitchen pendants, dining room)- Garage is ok- New closet doors for 3 bedsAny help would be appreciated!!

Or, things to make it at least functional until you can go to the store and get a better item - like, the tenant breaks the nice pendant light over the dining room table, so you install one of those $10 dome fixtures on the ceiling so they can see, and then go get a replacement pendant fixture on the weekend and install it.Some things, like toilet valves, outlets, switch plates, etc can always be obtained at Wal-Mart, 24 hours a day.

Kitchen 1/2 Before Kitchen 2/2 Before Living Room 1/1 Before Gutted Kitchen 1/1 During Gutted Living Room 1/1 During After Kitchen/Living/Dining Before Bath 1  After bath 1Before bath 2After bath 2 Hallway before After hallway Before bath 3 After bath 3 Before office/denAfter office/den/library 

Hi fellow BP’ers-My name is Dustin Clark.I’m a prospective REI investor in Watertown, NY – the “real” upstate.I’ve spent the past few months quietly behind the scenes soaking in as much real estate information as possible including BP podcasts, forums, webcasts, all the free books from BP, reading other books (Rich Dad J), webcasts, etc.I’ve spoken to a few local investors about their strategies and after much discussion, my wife and I have settled in on BRRRR with the stipulation of our all-in costs being less than 80% of ARV.We are using a HELOC for up-front cash to get the deals and work done and would refi once the improvements are done and we’re at our full ARV.After looking at several MLS listings using my own spreadsheets, digging in several layers on a vacant house just down the road only to come to a dead-end (bankruptcy, divorce and foreclosure… eek), we are taking another step towards getting our first one under our belt which brings me to my question(s).I’ve been drawn to an 1880 duplex in Watertown that has a new roof, newer windows, newer siding and that’s about it.The house is a 6 bed 2 bath (3/1 each side) with a good overall layout (coming from someone with no experience…).The problem lies in the inside.The furnace and hot water heater are newer which is great but it needs a complete gut of the kitchen and bathrooms and the plaster walls and ceiling are in very rough shape.The plaster is my primary concern and turns out is the largest item in the rehab costs.I “unfortunately” have the ability to do all the repairs myself but I do not have the time as I am a full time + civil engineer.My experiences in and out of work do give me a great handle on what needs to be done and a pretty good idea on costs.As I mention however, this plaster issue is one that I have not dealt with.I’ve tore-off and re-sheetrocked but never repaired or sheetrocked over.I think the best solution is to drywall over the walls with ¼” drywall, and tear-off the ceilings and drywall.Here’s the deal in a nutshell:Current asking price - $35,000Repairs (not including plaster) - $37,000Plaster repairs - $15,000Misc/contingency - $5,000Total rehab cost - $57,000Potential rent - $800 * 2 = $1600Estimated ARV - $80k - $85kWith our strategy, we would need to be in to this at no more than $64k making the purchase price $8k.With the current asking price, this seems crazy to me…A few pics below show the kitchen and dining room.The dining room pic makes the plaster look much better than it actually is.I’d love to hear from you guys on our approach, the deal overall, the plaster repairs/fix, etc.Thanks in advance!

. - Currently, I have carpet in the two bedrooms, hallway, living room, and dining area.

Great location and short drive to dining/beaches.

The house is in great shape and was built by her 40 years ago.The top floor is 3 bedrooms 2 bath with living and dining room and kitchen.

The appartments themselves are nice and big, 1-bd/1-ba, with big dining room and a sun-room.

I have dine just about it all including ownership in the flooring business who did everything.  

If the card is elegant, people will want to keep it.One strategy is to put your name and what you do on the front in really attractive, large design, with contact info at bottom and more brochure-type details on the back.