It's a joint venture with a few partners with one partner handling the bulk of the workload when it comes to upgrades on the interior and exterior upgrades necessary.   

Updated the kitchen and bathrooms, pulled out old carpet and replaced with engineered hardwoods (upstairs and basement), repainted the entire interior of the house, new lighting throughout most of the house.

The duplex has a new roof but it needs work: new interior and exterior paint, landscaping, new fence, remodeled kitchen and bathroom, new appliances and windows.

@Justin PeuckerMainly just looking at number of bedrooms, bathrooms, square footage, garage size, and condition of interior such as kitchen and bathroom finishes.

Purchase price: $165,000 Cash invested: $40,000 Sale price: $273,000 Purchased off-market property and completed a renovation to include the following: minor structural repairs, minor changes to floor plan, complete interior painting and floor refinishing, gut and redo kitchen, various landscaping improvements, deck repairs, all new hardware and light fixtures.

I would walk the interior and takes lots of pictures and take lots of notes.

Also, there are likely guidelines that need to be followed if you are renovating the interior of your unit.

I have one trusted guy that does the interiors, and then I end up finding other contractors for big items (plumber, roof, electrician, carpet etc). 

Just be sure the window sill is less than 44” from the interior finish floor and the window and egress sizes are per code to be considered an egress well.

My girlfriend has an architecture diploma as well as an interior design degree so we've been thinking more about having our first property be a flip property that we would live in for a few years and fix up.