I would slow down and think about your BUDGET, what you can get for $30k, and how you can increase your income.

Budget these carefully into your overall project plan to avoid surprises.Rehab Budget: Ensure that bids are received from multiple contractors and that adequate reserves are made for cost overruns.ARV: Be conservative on your ARV since the appraisal concerns one person’s opinion.

Over-budgeting is critical to ensure that renovations don’t eat into your profits.Market Fluctuations: If property values in your area do not appreciate as expected, or if you face a market downturn, the amount you can refinance for may be lower than anticipated.Financing Challenges: Securing financing for the initial purchase and rehab, as well as refinancing after the property is rehabbed, may be challenging, particularly if the property is located in an area with fluctuating values or if the rehab work doesn’t immediately improve the property’s appraised value.Tenant Risk: Rent collection and tenant management can be unpredictable.

I will tell you he did a great job because very little interior re-work was required - but it was a substantial hit to the Reno budget!

To me:  OTM is an entertaining news show when it’s Kathy, Dave, Henry, and James discussing headlines.

You can wargame scenarios to decide what you think is best.On the other hand, that is a pretty sizeable rehab budget. 

And no, I'm not stalking him or anything....his posts are colorful and very entertaining (I mean that in a good way).Hope you keep knocking it out of the park Andrey!

Eliminate debt, establish a budget, and save.

This is where I would focus, as these are the same attributes that attracted those responsible for the larger projects like the Bellweather District you mentioned in your initial post.With your budget I would recommend NW Philadelphia (Germantown and Mount Airy in particular).

I'd budget 30k. framing labor in ohio is about $7-$8 per sq ft and materials about the same.