But after all, he made a great decision and it was amazingly profitable.Numbers:80k Purchase – cash 35k – Reno Roof, siding, paint inside and outKitchen cabinets and countertop resurfacedPlank floor New tile in bathroomRepair electric and plumbingHome staging 1% of sale price6 month project 165k sale price less 6k closing costs44k Profit Regrettably, this will probably be the most profitable flip I am involved with for the foreseeable future.

I made an offer on a foreclosed property that needed everything redone (roof, hvac, windows, kitchen remodel, paint) and they came down a whooping $4,000. 

Paint, flooring, cabinets, bathrooms, lighting, windows, landscaping?

I would be purchasing one unit out of four in the building, which was constructed in 1975 and needs exterior repairs including to the roof, carport, trees and paint.

My question is - would you invest a bit more up front into more durable synthetic flooring, industrial paint, epoxy-coated showers etc.?

For example, the house you like is $80k the rehab cost is $35k (new kitchen, baths, floor, roof, paint, etc). 

@Mike Morey - I have had very good luck and prices through Allstate, I use Dave Bochtler located on Center St in Auburn, Only catch is their inspector does find stuff like roofs and paint peeling and they put timelines on fixing them.

Unless you plan on doing all the work yourself, you should factor in termite inspection/prevention, possible tree removal/trimming, clearing gutters to prevent leaks, sending contractors to fix things that break, painting unit after each tenant, changing locks after each tenant, cleaning, appliance maintenance etc. 

Here in Atlanta, if you paint your entire exterior of your house you have to file a permit.

However, we completely renovated one unit, made exterior updates and small updates to other units (paint & a/c work), increased rents, and the neighborhood has undergone some big positive changes.