Over the years I became more and more involved with some of those people and as an adult started taking them to lunch to "pick their brain" (Not my favorite term but you get the point).One of these Gentlemen I have continued to meet with and give him updates on my business.

I am trying to get them updated there so you can see the success of the deals we are doing with our partners.

Deal #2 - MLS property using conventional loan with purchase price of $240k, 10% down, 7.5% interest, will need about $12-15k in updates/rehab.

Avoid lipstick on the pig.Renovations like nice kitchens and bathrooms are great for rental properties, but it is not everything.A property that has been cosmetically renovated, but has no capital improvements is worse than one that has been very well-maintained, but might have older cosmetics.If I walk into a property and I see that the kitchens and bathrooms have been redone, but all the walls are plaster there's no grounding in the electrical and the plumbing has never been updated that I consider it a full gut.It's a shame to pay a premium because of a nice kitchen and bathroom only to find out that you have to rip it all apart.It is usually less expensive to do cosmetic rehab for rentals than capital improvements. 

The home is recently updated and ready to rent.

This included necessary updates and improvements that significantly increased its market value.

There are several skip tracing providers but oftentimes they use a database that isn't regularly updated.

You can get higher rents when things are updated and newer.

The property clearly needs new flooring and some repairs to the deck, among other updates.

The roof needs to last at least 3 years and it more than likely needs to be replaced and I need to update the panel box from fuses to circuit breaker.