Off the top of my head, that amount covered:- Carpet, vinyl wood floor, ss appliances, painted everything, bathroom tub and surround, replaced all water lines with pex, all new interior doors and hardware, new seals in about a dozen window sashes, light fixtures, gutters, kitchen counter top and sink, trim, new AC unit, new registers/vents, and a bunch of other little stuff that my GC had to do that added up ($)!

Code enforcement in some areas is very strict, harsh even, and in those cases (like making a homeowner tear it down) buyers are going to react to that with their wallets.

Like the Capital One commercial,"What's in your Wallet"

If I ever decide to sell the house and it makes more sense to market it as a traditional SF home, it wouldn't be too much cost to tear down the wall and install new garage door hardware to reclaim the attached garage.Photo 7Photo 8Photo 9So that's where the big items currently stand.

. $1,000 in cash invested was for termite inspection, some hardware needed in common areas, and cleaning supplies as 3/4 units were already occupied. 4th unit I will be moving into once I finish cleaning the apartment, but all it needs is a good cleaning and no rehab to be move-in ready.

As an investor that manages projects out-of-state, I would say the best way to protect yourself is to keep as much money in your wallet as you can (until the rehab is complete) and word the contract so you can break it if certain milestones are met.

Purchase price: $150,000 Cash invested: $25,000 Sale price: $222,500 Moderate rehab with mostly cosmetic items including tile flooring, refinished kitchen counters and bath tub/showers, new bath vanities, all new light fixtures, new hardware throughout, and refreshed landscaping in front and in back.

Purchase price: $150,000 Cash invested: $25,000 Sale price: $222,500 Moderate rehab with mostly cosmetic items including tile flooring, refinished kitchen counters and bath tub/showers, new bath vanities, all new light fixtures, new hardware throughout, and refreshed landscaping in front and in back.

All new light fixtures and hardware throughout.

All new light fixtures & hardware throughout.