okay here is a little story about this house. i bought the 1200 sqft house for $14k from a owner, and spent around 12k for remodeling such as a new wooden floor, paint inside/out , window and tiles and some new dry walls.  

A person who is willing to devote 7 days a week to the real estate investment, remodeling and the resale market place.

I found some interesting surprises behind the wallpaper in a home we are remodeling.

I had been a contractor for 16 years, and have a lot of experience in new construction and remodels, but got out of the business in 2008, changing careers to mechanical piping design.  

I was going to use a 30yr conventional loan with 25% down to buy this property and use as a rental, estimated rents in the area for similar homes are around $950/month, the ARV for this house if you did a full remodel are in the $130-135K range.  

The house is a bit funky and contains a full functional living unit on the second floor but the ground floor, (basement), which is on a slab, seems to have been remodeled at some point, but not at all finished.

I'm a remodeling contractor.

These gave me a good introduction and game plan for allowing me to either make my own statement of work or know what the heck a contractor is giving me when I look at their statement of work.To that end, I also ordered the 'National Repair & Remodeling Estimator 2016 (National Repair and Remodeling Estimator) (National Repair & Remodeling Estimator (W/CD))'. 

Don't bust your budget but give people what they want now and then re-paint, re-face or replace as needed down the road.Hope that helps.Below is a remodeled kitchen I did last year.

I have no idea how much you know about the remodel process, so please don't take any offense if my questions seem stupid to you.