I believe the landlord has not bothered to update anything in the building and is okay with the low rent.

Due to it having section 8 tenants it needs to be regularly inspected and it just passed another inspection yesterday.

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Purchase price: $163,400 Cash invested: $25,000 Sale price: $240,000A buy&flip project on a Single Family House10K - Flooring, Trims and baseboards8K - Interior Painting3k - Updated water heater, and gas permit2k - Other minor fix, ceiling fan, windows, light bulb, new fridge, and more2k - Holding cost, HOA, and other related utility feesTotal cost of repair - $25k

Simple cosmetic updates are no longer enough; buyers want well-executed, durable improvements that justify the investment.3.

We have a great 1-1 with updated finishes that we currently live in, and a 1-1 unit that we Airbnb that has an income of $2500-3000 a month covers more than our mortgage!

Unused contingency funds, unless they were received directly from the borrower, must be used to reduce the outstanding balance of the renovation mortgage after all of the renovation work has been completed and the certification of completion has been obtained.The loan is not re-amortized.Draw Schedule:The HomeStyle program has a maximum 4 draw process.The initial draw can be up to 50% of the total project and can be for materials for the project.The final draw will be at least 10% of the total project as retainage and funds will be released upon receipt and approval of final inspection, Certificate of Completion from Appraiser, signed All Bills Paid Affidavits and Lien Waivers.Additional Draw Information:Ø Signed Draw Request by borrower and contractorØ Signed All Bills Paid AffidavitØ GMG review and approve the draw request and will release funds for disbursementØ A check will be issued in the name of the borrower and contractor and delivered to borrower via USPSØ An inspection of work to date will be performed at 50% completeFinal Draw Information:Ø Signed Draw RequestØ Final inspection/Completion Certificate will be required for release of final fundsØ A Title Update showing property free from lien or encumbranceØ General Contractor’s Lien Waiver AffidavitØ Affidavit of Completion GR will review and approve the draw request and will release a check in the name of the borrower and contractor.Change Orders and Cost Overruns:Changes to the initial plan are not permitted unless prior approval by Guaranteed Rate.

They offers great terms and timely updates.

Interior remodel- updated kitchen cabinets, bathrooms, flooring, wtc.

Brand new kitchen cabinets, updated bathrooms, flooring, etc.