To add a bathroom in the hood versus the primo areas is about the same cost; the return is completely different.I buy most STRs full cash, and re-fi out with under 30% in LTV.

Very enthusiastic about getting into RE as a wealth builder but I know that I have much to learn about the process.

I want to re-highlight the importance of having the seller get the rental license if the use hasn't been kept up with it for over three years.

Why not just re-fi @Chris Antonelli?  

Hello everybody! I’m a new real estate investor also new to the Portland area! I’m open to networking and connecting with anybody regarding real estate investing and tips for growing wealth. I’m relatively new to this...

Might just be a Colorado requirement for RE brokers/PMs. 

So a re-fi situation will definitely be a good option in the not so far future.

Tyler - I am following this thread and sent you an email re: interest in smaller multifamily and SFR in Indy. 

***Edit I see you re already a member!

What you pay with labor will depend on if for instance one of my units still has a good pad and tack and strip then I just pay for carpet and installation cost.What you will pay will also depend on how much you are installing at one time.I don't like Berber for rentals.The design of the loop once it starts unraveling it can unwind pretty good an dis harder to get certain stains and pet stuff out of it.With carpet you want a Nylon carpet even if the cheaper version.Some carpet guys will try to sell you the rubber composite carpet stuff which is the really cheap stuff so it will stand up to tenant abuse.The problem is it can only be cleaned usually up to one time and then you need to replace it again.So I would rather get a cheaper nylon that can be re-cleaned many times over after installation for an additional .10 to .15 a sq ft extra than the super cheap stuff I will have to replace again.If you get 1 sq ft for carpet,pad,tack and strip,and labor install and it is Nylon you are getting one heck of a deal.Even at a carpet place usually you are at .40 to .50 for the pad and .50 to .60 for a cheap carpet.Then you have to do material to install and labor.I have seen sometimes if you have to do a small area you can pick up quality remnant pieces for real cheap and hit that type of number or buy in bulk.