Originally posted by @Dawn Anastasi: Originally posted by @Wes Eaves: When my wife and I bought a new house, we turned her house into a rental.

I have put up drywall, put in flooring, painted (lots of painting), put in switches/outlets, light fixtures, installed a dishwasher, removed wallpaper, hung curtain rods, put in a toilet, installed ceramic tile floor, hung kitchen cabinets, etc.I do feel that it was worth it for several reasons:a) I know what's involved in doing certain tasks.

And then I remember some goofy stuff on the bid form that I didn't like, not sure what it was.As Dawn said, don't put too much weight on their condition report.

- 1,740Property Managemen (10% of rent collected)- 1635Supplies-100Replacement Reserves- 1296.25 (stoves, refrigerator, dishwasher, AC units, HW heaters, roof, carpet: based on replacement cost/remaining life x number of units)Total Expenses- 5271.2516,365(EGI)- 5271.25(expenses)= 11,084.75/12= 923.72(monthly income)923.72-1014(debt service)= -90So if I have to pay 90 a month for 360 months that’s a total contribution of 32,400 for a 150,000 property that generates 923.72 a month (in a vacuum).

@Dawn Anastasi I actually work in the mortgage industry and you can purchase an investment property as a primary residence as long as you live there.

Thanks @Dawn Anastasi for the link to the Morgue File.

Hi Dawn - thanks for the quick reply and advice.

No dishwasher, no garbage disposal.

Dawn Anastasi I need your insight!!

@Dawn Anastasi just listened to your BP podcast.