Purchase price: $96,000 Cash invested: $25,000 Sale price: $155,000 Altered kitchen layout, new kitchen cabinets, all new lighting fixtures, paint, floors, and hardware.

I am currently looking at buying a hardware store

@Josh ThomasI strongly agree with @Nathan G.I know paying for a vacant place for 3 months in another market is eating at you and your wallet and who could blame you, but dont rent to these tenants on a emotional decision of being 3 months vacant and not wanting to go a 4th month vacant.

We added value to this deal by making the following cosmetic changes:- Repainted the entire unit- Updated all outlets and covers to be uniform (a few USB where applicable)- Updated all light switches to 'flat panel'- Updated kitchen cabinet and drawer hardware- New stove & range- New sink outlet- New kitchen ceiling fan- New toilet- Deep clean & high quality post/advertising to emphasize the value the condo has to offer What was the outcome?

So we show up and the tenant did not answer the door as we stood there. come to find out when the cop went in he said for us to go wait in the car.. guy left his wallet and a letter on table. cop knew what that meant.. and this poor guy shot himself in the back yard.but It did not occur to me that these folks could be armed and potentially use those guns. and all the times i had tried to talk to him I even bought half of his stuff to try to help him move ( tools and such).. but it scared me he could have looked at me as the big bad guy that bought his home at auction then was evicting him and well he shoots me :(  there is risk in landlording that many just dont quite fathom.. 

Perhaps they are the wave of the future, but in our circumstance they weren't right for the following reasons 1) the cost would have been about double of what we've paid for traditional forced air systems; 2) it would have required too much unsightly hardware and line sets all over the outside of the building; 3)they are designed for better insulated construction than this era of building provides. - We decided not to replace the existing boilers with high efficiency modulating condensing boilers.  

The upfront hardware will cost way more and overall it will be less efficient.

I know this one is going to hurt the wallet so I want to make sure I have the right guys for the job.

And easier on my wallet as conventional mortgage.

I rented a 250k BTU torpedo style construction heater from a hardware store.