A light lipstick remodel to get that top dollar.I just want all of you to broaden your vision as I know many people think they are looking for the ugliest house, but can't get a deal on it so they never even do a deal. 

I'd suggest starting out by analyzing properties and learning what constitutes a "deal"  there are alot of pigs out there with lip stick but underneath the lip stick they are still pigs.  

I believe SFR's and most duplexes (unless you buy at wholesale and put lipstick on remodels) are hard to make pencil at the numbers I showed above.  14 units might be to small to you but they operate at the same rules as 140 units... based on rents, cap rates, etc. 

Maybe use the $12 a sq. foot method as a basic as far as cosmetics goes (putting lipstick on a pig) and then do a separate analysis for bigger things as far as HVAC, electrical, plumbing, appliances ect.

The problem is that the public is now educated on what is a cosmetic flip and what is a true renovation, so the cosmetic "lipstick on pig" flips sit vacant while the truly renovated homes in the $150K range sell in under 4 days for ask+.So, 20% margin, less partner cut of 50% and tax/close cost of 50% leave 5% margin for flips.

It just needs some lipstick on that PIG!

My problem with TK is that you pay top dollar for a place that is "lipstick on a pig" rather than a nice renovation.

That and the fact that the banks are far too smart to lend on a $40k POS ghetto house with lipstick slapped on that pig.

I need to get an off-market property (probably a duplex) that I can purchase, add some lipstick to, and refi.

House is in good shape on the surface, i need someone to look past the lipstick..