All in all, this contractor racked up $23K in construction liens, all while paying HIMESELF $12K.  

I had three years interning in the field and I was getting BLOWN up by offers from various Mortgage companies, so I finally decided to cut my losses at $40k of debt, enter the work force and stop racking up debt that I'm really not deriving direct, tangible value from. 

If they leave you before their lease is up keep their deposit to cover your one month of vacancy and move on  and this time add this to your  tenant screening procedure:  let the applicants rack up before you make a decision on your next tenant. 

Hello BP,I have been racking my brain over this deal and am looking for any advice that someone may have.Here is the link to the BP calculator: View reportThis property is a 13 unit multifamily property.

I go home depot off the rack.  

The windows are wooden single pane original windows.

Features:3/2 with flex room (4th bedroom possible with frame out closet in large flex room)Large open concept living/kitchenNew roof (architectural shingles, 2017)A/C 7 years old (manufactured 2010)Front and back wooden deckSmall neighborhood, 7 minutes to uptownAcross the street from Elementary SchoolVaulted CeilingsOriginal Hardwoods in living areas and hallwaysFenced in yardStainless steel range and dishwasherWHAT IT NEEDSMaster bath remodel (there is a very accessibly crawl space, so this should be easy according to the contractors I've spoken with)Reconditioning of hardwoodsNew CarpetPaintRefrigeratorNew interior doorsMinor landscaping (one tree removal)ARV: $220,000Repairs: $20,000LIST: $175,000 What made you interested in investing in this type of deal?

I tell them if the oven isn't clean they can save themselves some money and time by going to the store and purchasing two cans of easy-off while they wait.If they coat the oven and racks with easy-off (no generics) and leave an empty and full can on the counter then I charge $30 for the oven clean otherwise it's $150 -- this is in my move-in condition report which is part of the lease. 

I rehabbed with a new kitchen,1 new bathroom and all the wooden floors re-done.

@Bryan Thomas IF properly maintained, slate lasts a long time...it's stone...the one thing to be aware of is that slate roofs are not "decked"...they use a series of wooden slats that the slate basically rests on.