Rewiring, adding bathrooms, fairly substantial exterior work.From my experience, if you are only looking at MLS listings, the deals will require a lot of vision and renovation.  

Living room is 10' x 17' and should have NO major plumbing/electric running through the floor.Thought Process: My vision for this unit is to take out the wall between the kitchen and living room, put in vinyl flooring, and revamp the bathroom.

Be very clear on your vision and direction, and maybe even have a few properties you're looking at and bring those to the table with your funds letter.  

Your vision will point you in a direction. 

Long vision yes things will go up BUT one will have to ride out the short and mid term variables and be accepting of such. 

I learned that there is no upside without risk, I'm not afraid of lossing money because money can always be obtain again, the satisfaction of going after your dreams and making your vision a reality is second to none, and it doesn't matter how bad it gets there is always an opportunity to learn and grow, and often times the upside is right around the corner from your biggest setbacks.Ps.

But with a holistic vision, we see the massive shortage of units, and that inflation hitting RENTS just as hard, thus the alternative to home buying, renting, creating a force incentive to keep buying because the cost of housing is rather equalized, the incentive for home ownership still stands, despite rates, despite increase in housing costs, because the alternative, renting, is just as costly. 

Having vision, and an actual "skill" of forcing equity is the ticket.The local market is tough, and I've written more "over asking price" offers than I have "under asking price offers" in the past 3 months. 

I can worry about the current tenant (AKA ex-customer) being unhappy, I can worry about (a few of the 20) prospective tenants not having vision to see the place cleaned up and not applying, or I can lose $75-$125 each day by waiting to show the unit until the current tenant is gone. 

FinancesAfter I really began to focus on how I am balancing my life in these different areas, it really brought clarity towards the vision that I desire to create.