That is another factor to see if it's worth rehabbing the property.

This is by far the most important factor in my opinion.

It appears you are focused solely on the financial components of the project without understanding the insurance and liability factors of self-performing the project in the manner in which you propose.

Also, what key factors are influencing your decisions?

If you can design the layout to maximize rental income, it could pay off in the long run.- Learning Opportunity: Having your friend as a general contractor at a discounted rate is a fantastic opportunity.

Consider factors like retirement, landlord fatigue, property maintenance issues, or asset liquidation.

If you didn’t factor in some amount for repairs and vacancy and CapEx when you vetted your property I hope you will do so with the next one.

How much above market will be the determining factor whether I want to move forward or not.

Check with the building permit department about exact submission requirements and what work requires licensed designers and engineers.

Look for homes that scare most homebuyers & factor in your renovation budget when making offers.- Opportunities with additional income potential.