Hello I have been listening to all the podcasts (in my car/office) but not said hello yet, i'm from Washington state, even heard Brandon in Poulsbo Wa (PODUNK WA) I have had a house under contract for some time now 6 years or so, when I paid the arrears I also took 6 months off to remodeled it , (never again, learned a ton though) I obtained it subject to existing mortgage, I sold it once Lease option, got it back, rented it out about three times, I repainted the inside (third time) last week put a FSBO sign in the yard and have sold it rent to own to a nice couple with $10,000 down and $140,000 sales price. ( I meet with them this Saturday) They have agreed to $1080 per month (I didn't say anything about interest rate but i think that is about 8%.

I want to focus on out dated homes, remodeling them and bringing them to conform with the already updated homes in the neighborhood.

I don't know much about them.The home is in relatively good shape but there is some definite deferred maintenance needed like a kitchen/bathroom remodel, removing the wall paper from 1978, floors/carpets, swimming pool refurbishing, etc.

I attempted to do some of the remodeling by myself and...fell from the ladder with a bucket of paint on my head.

I am in the position that I could occupy the home while remodeling it. 

Hi Dennis, in general the owner of the real estate that has been remodeled/retrofitted to meet certification standards for assisted living should be able to lease the property for 2-3X fair market rent of a comparable sized house.

It just feels extremely low over the long term if doing proper CapEx or full turns/remodels over a period of time.Not trying to be confrontational, simply curious of what they were.

Does your company do full remodels?

You have to decide how much profit you will accept on every deal before you buy it.The other issue you have is to find a better team of remodelers. $40,000 is a hell of a lot of work on a single family.

Another company, A Quality Roofing and Remodeling quoted us $3,900.