While you did point out the negative aspects of a deal like this, you didn't really highlight the pros on the RE side and future investment, appreciation etc.I’ve done two of these projects in the past 3 years in SoCal.

@Krissi Miramontes sounds like it was a nice project.

Purchase price: $35,000 Cash invested: $35,000 Sale price: $110,000 A fix-and-flip project purchased off-market from a tired landlord involved buying a distressed property with significant deferred maintenance.

Others recommend tools like Stessa or Buildium to track actual costs and project future expenses. 

I want to start investing in real estate in America in the near future, since I am not in America, I live in Europe, more precisely in Serbia, any advice and contact will mean a lot to me.

If there’s specific projects like electrical we get a project specific estimate after we put it under contract prior to the earnest money going hard.

It would just need to be a situation where they have great contact with the person doing that managing of the project (I.e. have known the person for years, great reputation, person has experience in flipping etc.).

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $465,000

Cash invested: $80,000

Checkout my Airbnb here: airbnb.com/h/madeirabeachoasis

Salt Water Pool & Hot ...

Again, if your $250k is true, and includes all the electrical upgrades, new plumbing runs, potentially new foundation pour (since I assume the existing garage slab is not capable of supporting a new two story house), I am guessing since I don't know the market, but assume you will have a lot of equity by completing the project.

Although I've considered a future line of credit against the property as my best long term option, I would need to pay down the remaining balance first.