We had planned on eventually redoing the kitchens and floors in both units once we turned over new tenants, but the evictions accelerated that process.

Typically, since I'm well connected because of flipping, HVAC, roofers, lawn care, carpenters, kitchen & bath & plumbers and electrical all are good sources.

they said around 90% of market value.I tried to get them to understand that this property needs a LOT of work, almost a full gut, some holes in walls (small) old carpet needs to be ripped up, i mean like the works on this thing, you can prob get away with touching up the kitchen since its real hardwood and the bathrooms as well but this prop needs at least 80k.Found out owner actually owes 140k on property, and zillow is zestimating it to be 127k.

Licensed with permits ~$4,000.Full replacement of all water supply lines and shutoffs from the interior water meter with PEX and an open basement.  1 kitchen 1 bath 1 laundry. 

It all cash flows like a gold mine until the roof needs to be replaced, the main line goes, or you get your first turnover bill and need to upgrade a kitchen. 

I looked at their Houston Fourplex presentation deck and it appears that the Southpark project is almost the same in terms of building design etc (the interior pictures of the fourplexes are exactly the same).I too am considering investing in their Southpark fourplexes so would definitely appreciate people sharing their thoughts and investment experiences.   

There are some creative ways to get it from 37% to corporate tax rate of 21% but generally it's best to invest passively as the IRA is designed.  

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

When you go to sell the property, if you produce a certificate of inspection for the wrong number of units, buyer unless you are giving them a great deal and they will throw caution into the wind, would insist on the correct designations.

At our STR, we do have a fully equipped kitchen with coffee pods.