(House was in Highland Park, Los Angeles)Purchase price: $600kRehab: $94k - Full rehab: new layer of shingles on roof, 13 new windows, all new doors, new laminate floors, new 3' front retaining wall, full gut kitchen (new cabinets, quartz countertops, tile backsplash), 2 full gut bathrooms (new tub, floor tiles, wall tiles, vanities, faucets, toilets, vanity lights), converted one closet into a washer/dryer closet, created a master ensuite with a hallway bath, opened up some walls, recessed lights throughout, scraped popcorn ceiling, installed new HVAC, interior paint, exterior paint, stucco repair, new landscaping front and rear of house, new wrap around deck, installed double french doors master bedroom and garage, to new tankless water heater, new exterior lights, updated light plumbing and electrical, new garage door with motor, and some other normal repairs like replacing drywall, floor boards, and replacing some wood trims like facia boards.    

But don’t get too attached to it, because costs could mount way up, and you might be better off building fresh!

I'm also considering buying some land in Mount Horeb and building a 6/8 unit apartment there.

Its like saying I want 3 cars, so grab 3 cars out of the junkyard and put motors in them.

Business Plan Purchase list of SFR Absentee Owners with greater than 70% Equity in Mount Prospect, Arlington Heights, Prospect Heights and Elk Grove Village.

That said there is also items such as a $750 variable speed blower motor I replaced in my HVAC system this spring, that is an expense as it is a component of a larger system.It is very complicated and that is why clients pay accountants like myself to keep track of them and assist.You are not going to depreciate a $40 light fixture it will be expensed when you replace. it.

We have offices in Seattle and Mount Vernon and only fund loans in Washington State. 

Hardly anyone is goofy enough to buy 5 house on one lot or an old motor lodge.

Hardly anyone is goofy enough to buy 5 house on one lot or an old motor lodge.

I have also invested in different areas of the city (Old City, University City, Mount Airy, and the Northeast).Philadelphia is an interesting city for RE investing.