I've been using the Rental/BRRRR calculator for a few weeks now and I've run into a patch of properties where the stated (from the listings) cap rates are in the 7-10% range but the numbers just don't add up.

I've been using the Rental/BRRRR calculator for a few weeks now and I've run into a patch of properties where the stated (from the listings) cap rates are in the 7-10% range but the numbers just don't add up.

I had an older triplex, constantly had leaks, when the plumbing is fixed I had find someone to patch wall and ceilings.

He patched the hole in the blinds with some white vinyl. 

Another idea is to only refinish the staircase and cover the rest of the hardwoods with floating vinyl plank - we have done this in cases when it was cost prohibitive to refinish (due to required patching).

Usually the basics for good curb appeal and return would be:Green grass (no weeds or big empty patches), have the trees and bushes pruned.Use low lying flowers/shrubs at front of house so there's some color and character.. but you're not blocking up the view of front of the homeKeeping things generally 'manicured' is the better way to go. 

Depending on the work you may not need a permit (patch and paint, replacing carpet, etc.) 

I have completed a few flips, some patch and paint and some are complete renovations.

I would hate to be one of those crowd funders that allow non accreds putting in 10k into a deal that went south IE  a HML like whats happened at patch of land.. those 10k people will take up the bandwidth of 10 people worrying about their 10k.

If fixing the house is more expensive than just demoing and redoing it.THat is the simple answer.However you also need to take into account that even if redoing it is (slightly ) more expensive than just fixing said sheetrock... know that a full gut, will result you in a brand new house interior... something that fixing and patching will never even come close to.