Think of this loan as a “bridge” that gets the property from where it is at acquisition to where it will be once you’ve changed the name, painted the cabinets gray, installed some subway tile, and renamed it The Judson at WaterChase or what the **** ever.

I would use tile in the kitchen and bathrooms ideally, and then LVP in the rest of the property.

I started tiling all tub surrounds all the way to ceilings.  

He earned quick money as a wholesaler, and I have a house to keep)Rehab cost: $20k (vinyl floor, interior paint, new dual pane windows, new toilets and bathroom vanities, lights, new landscape, new AC condenser, all done by handyman, spent some extra money for minor plumbing and electric jobs, hydro jet sewer lines, clean up attic (had mice), added some insulationTime spent: 3 weeks (two handymen for the first two weeks, one for the last week)Value after repair: probably around $440kJobs still need to be done later: some dryrots, roof work (it's tile roof, roof doctor quoted me $9k, handyman said probably $5k, home inspector said $15k you can get a new shingle roof.

Upgrading fixtures, adding modern tile, and improving lighting can make a big impact.

Maybe never in CO but other areas have seen it happen.Personally I am always trying to tell others that they need to look carefully in any area no matter how attractive the deals are.I agree that you need to work with an agent who knows the lay of the land.

Avoid putting in cheap items and put in more durable - tile vs carpet, mini blinds vs faux wood, lights instead of ceiling fans.

If you can visit, that's great, even if it's just to get a general lay-of-the land.Understand what your goals are and what property classes you're targeting (A/B/C neighborhoods).

Private money, depending on your relationship and level of expertise, could lay between 8-12 percent straight.

That lays out the current status of the relationship between the seller and tenant including who owns appliances, etc etc etc.