Refinish or rip out and replace with wood?

I'm talking refinishing hardwood floors, painting doing most the kitchen and bathroom.

I intend to keep all the hardwood floors intact with the one bedroom floor requiring some minor refinishing.

The basement does not have conforming egress windows, and was decomissioned as a 4th unit and then mostly un-finished.My question(s): If I were to re-finish the basement, could I live in it?

So after 3 months of vacancy (and making mortgage payments the entire time) and a fresh refinish on those floors, I have already spent nearly $500 on maintenance, still haven't found where the water is coming from or how much that will be to fix and am going to have to replace the entire floor once the water issue is fixed costing a minimum of $3000 on the low end.So that phenomenal return I'm getting sure doesn't feel like it this week!

Estimated rehab: $30k (remove carpet and refinish/ repair hardwood, paint exterior and interior, redo kitchen and bathrooms.

Anywhere that you have an opportunity to add square footage, whether its in the form of a refinished basement or adding an addition, I would do it.

Elizaveta, I will take a crack at it since no one has responded yet. 1) My first deal was a fairly in depth rehab which included foundation repairs, window replacements, garage roof replacement, electric work, plumbing work, floor refinishing, and a lot of the things we do to almost all our rehabs (new light fixtures, new outlet covers, new appliances, new doors, etc).

This one will be a buy and hold in Memphis, TN.Numbers look like this:Purchase price $122kConventional 20% down and financing 80%MAIN HOME: 4 Bedrooms, 3 Full Baths, Living Rm, Dining Rm, Hardwood Floors (Currently rented for $ 1,300 per month - Current tenant for nearly 2 years)Updated Electrical WiringNew Heat and Air ConditioningNew Exterior Paint New Interior Paint Refinished Hardwood Floors Remodeled Master Bathroom (12" Tile)New flooring in kitchen and diningNew Light Fixtures throughoutNew Doorknobs throughoutNew Blinds throughout Large Updated KitchenAPARTMENT 1: 2 Bedrooms, 1 Bath, Full Eat-in Kitchen, Large Living Room (Currently Rented at discount for $ 725 per month to same tenant in 1 Bed Apt (Typically rents $ 785/ mo).

I have an old floor to refinish that hasn't been maintained in many years.