One unit is totally renovated so that's going on the market immedietely.The other unit is rentable but very dated. 

The Tenant Class greatly impacts rental income stability and property maintenance/damage by tenants.Both Property Classand Tenant Class affect what type of contractors, handymen and property management companies will work on a property.If you buy & renovate a property in Class D area to Class A standards, what Tenant Class will rent it?

They managed the renovation being completely out of state - however, they had a very thorough process of vetting contractors/quotes, managing the GC, daily check-ins, getting receipts, tons of systems and processes.

Yesterday, I walked through a property that needed a full gut, but I didn’t bring a contractor with me, I only brought a friend who's somewhat knowledgeable in some renovations.

The property took $350k to renovate, on what was originally a $210k budget, but we transformed it in to a gorgeous 4,500 sqft, 7 bedroom, 5 bath, luxury Airbnb.

I am lucky that I can and like to go to my properties and do most of the major renovation work myself.

We renovated duplexes and converted. if the price of a condo is similar to a single family home I would pass on it.

Hi thereAccording to IRS guidelines, once a property is ready and available for rent, meaning after you completed the renovations. you would  be able to deduct expenses. snce this was your main home,  the tax accountant you will use will need to do a conversion from personal residence to a rental for depreciation purposes. the improvement you made, depending on what they are, may be added to your basishope this helps

@Timothy Frazier Yes, the only reason to use HML as a down payment is if the property is "mostly turnkey" AND you don't have the funds to renovate AND you have strong CMA comps from a real estate agent that supports that the fact that you are buying a property that is under valued AND your renovations would push that so that you could refinance.

While they often require some level of repair or renovation, the potential for significant returns makes them an attractive option for many investors.Why Invest in Distressed Properties in Phoenix?