ARV = $220,000- $180,000Listed at = $99,900Projected offer price = $85,000Estimated Rehab $60,000 - $50,000Holding Costs = $11,000Realtor, Closing = $19,900Estimated After-Tax Profit = $22,000PROs:Brand New HVAC system with ducting installedBrand New thermo windows installed throughoutBeautiful hard wood floors on the first floor (need refinishing)Tall ceilings (has a drop down ceiling right now though)CONS:Only 1 Bathroom on 2nd floor, going to add a half-bath on first floorHas drop down ceiling on first floor and plaster walls Kitchen needs to be completely reconfigured and floor leveledI want to knock out a wall between the kitchen and dining room and make a kitchen with an island and either quartz or granite countertops.  

3bd, 1.5bath, 1124sqft, on ~.2 acres with 1 car attached, 2 car detached garages (nice selling point given my hobbies)Reno Plan:Home is mostly cosmetic issues. remove popcorn ceilings. remove carpet and refinish hardwoods underneath, bathroom and kitchen updating, landscaping, gutters, trim and paint, and some work on the detached garage (new roof).Doing 90% of the renovation myself as I have done work on homes with my dad in the past. targeting a budget for 15k for materials and any surprises that I need help with.

Did you refinish them or install them?

One of the units is already rented, and both of the other two, while tey could use cosmetic updates like refinishing the floors, are liveable exactly as they are.

Certainly address the mechanicals, you will need to comply with HUD guidelines for health and safety and after that, it is up to you. the following basic materials are for you to consider when completing your renovation, while considering the future implications of tenant turn-over:*FlooringNO CarpetTile wet areas if this in your budget or simply install a resilient Rubberized Vinyl Floor plank systemGeneral areas - either refinish hardwood if existing or a new resilient tongue & groove laminate flooring*PaintStandardize the paint color throughout the entire interior, do not get fancy with painting different rooms different color, just more of a headache to deal with at each tenant turnover*ElectricalUpdated electrical schedule, new outlets and switches you want everything to be nice and bright, you want the wow factor no matter the area or rents, you want everything to be clean and look appealingNew Lighting schedule - consider using LED - it is brighter (better presentation) - more energy efficient and should be a smaller maintenance burned over time.

went from cast iron to PVC.New electric water tank, new appliances, refinished the hardwood floors, new smoke detectors, outlets, light fixtures, carpet in two bedrooms, vinyl flooring in the bathrooms and kitchen, 4 new windows, new toilets, blinds for the windows, insulation in the attic (there was nothing up there!)

They got their last sanding/refinish 8 years ago and there's no thickness left to refinish again.

I say this b/c when i'm finished with the house it will have a new roof, plumbing, electrical, siding, a/c (was new when i bought the house), paint, refinished hardwoods throughout, new tile in wet areas. ect.

For the windows my GC says no need to replace them and the only damage is the paint, so refinish them.I’ve never done something like this, but it was too good a deal to pass up.

Updating projects include:2 x new kitchens2 new sets of appliances including plumbing for dishwashers (didn't have dishwashers)Building out washer/dryer laundry rooms off the kitchen, so tenants will have separate systemsAll basement windows will be replaced with glass block that can open (for venting)I'm tearing out all the gross drywall and crap in basement and starting freshUpdating bathroomsInstalling Glass Block in the bathroom windowsFixing a few windowsPaint the whole damn thing inside and outRipping off (and capping) the unused crumbling chimneyWater managementGutters installed with drain pipes so I get the water away from the perimeterRipping out the carpet and refinishing the original hardwood - everywhere (if it's salvable)I am rebuilding a stairway making it saferA few other projectsTotal price after all Rehab/Fees is approximately $210,000I don't know what my rentals will be, I am going to begin marketing it @ $1,500.00/unit I believe I will be able to lease there, or at the lowest $1,300.00/unit (as is market values on craigslist and other sources)The neighborhood is considered the good part of the rough area, lower owner-occupant, lot's of section 8 in surrounding areas.