Hi John - We do have one property that will not be profitable or just about break even in 2024 due to all the unforeseen maintenance items:  pool heater, roof, pool fence, handy man over a dozen times, remodeling took 3 months instead of 3 weeks, etc. 

We actually spun out our PM work to be public facing and we're able to provide repairs to other owners at a much better price and with a much faster turn around than most other companies that are looking more a SFR remodels.

I can usually save a decent amount, especially if I keep eyes out for deals and buy when these items are priced most competitively and not necessarily when I need them.Using the bathroom remodel apartment as an example, I will spend $1,500 more per unit than most of my competitors who renovate in the same market but that $1,500  (5% of my apartment renovation budget) gets me  oversized soaking tub in most units, nicer tiled bathrooms, counter tops that don't look like every other apartment in the neighborhood & a step up in appliance package and better quality fixtures.

I may have property that has an old abandoned auto shop I can remodel and repurpose to a commercial kitchen.

Someone asks about a repair, then someone who has remodeled 25 houses answers his question,  then the next newbie has an insurance question and an Ins. agent responds.  

We added value by re-doing the whole house, installed vinyl floorings, rebuilt 2 and a half bathrooms, re-painted the whole house, replaced all the hardware in the house, installed new lighting, ceiling fans, re-painted the kitchen, and completely remodeled the upstairs.

A midrange kitchen remodel has a 96% ROI, costing an average of $27,492 and adding $26,406 above your cost in value.You could also go for slightly larger rehabs, such as adding a bathroom or a bedroom.

Rehab/remodel and selling is usually a decent exit strategy in Colorado, where good/quality inventory is always low. 

Since it’s also on a corner lot, it will connect the SoMa neighborhood (all their restaurants and business) to the Pettaway neighborhood where $15MM in new commercial/residential spaces are being built on top of a VA hospital remodel to 140-160 luxury apartments (70+MM rehab) that is just 2 blocks away.Willing to share more information at anytime. 

Complete remodel, added half bath, added new systems.