At this point it's mostly interior cosmetics and bathrooms (full gut) remaining, about 8 units.

Then we'll rent the property up and enjoy our monthly cashflow for the years to come :) This deal is unique because it's lipstick flip (interior & exterior paint make up 80+% of our renovation budget).

Here's a non-exhaustive list of some of the projects that we had to do to it.replace water main from the street to the housereplace all water lines in the housetear out all carpetPaint the interior (will be painting the exterior or residing in the spring)put in new laminate/vinyl floors throughout the houserepair dishwasher and oveninstall gutters on back of house and fix some water damaged areas of the wallreplace some of the rotted subfloor in the bathroom/laundry roomrepair the furnacereplace back doorchange door knobs and locksvarious other small repairs… patch holes, outlet covers, etc…Purchase price = $12,500Closing Costs = $1050Rehab (still an estimate, but it's close) = $13,500Total Cost = about $27,050Rent = $750/moHere are some before pics 

@William HowleyYou will want to check the building code but the last time I read it it said a wired smoke detector in every bedroom and 1 on the interior of the door leading to the garage.

I carry a vast knowledge in vendor, contractor, and ownership relationships as well as interior and exterior customer conflict resolution skills.

A large dog can break a big thing, but any size cat can ruin the interior of a house with scratching, fir and spray.

Also for as is value id say around 40k needs multiple windows, peeled roofing , new drywall , flooring , exterior and interior paint and cosmetics yard work etc.

I asked him for an estimate because we need the whole interior painted.

I was browsing around today , through various properties that are listed on the HUD website in my area, and I came across a property that is in a nice location, looks to be in good condition both exterior and interior from the pictures, and is listed for a really good price.So I thought ... what gives ?

This covers a mandatory inspection of interior/exterior, signing a one-page renewal agreement, and the tenant rent is automatically increased 3%.