Here is what we are wanting done.Exterior- New siding, painted, Large 2 story deck, stone staircase leading to the front doorInterior- New engineered hardwood floor, tile, paint, trim, carpet, electrical outlets, bathrooms (there will be 4 total) New kitchen to include counter tops, cabinets, appliancesPlus the demo of the current state of affairs to get us there.

They also complete General Contracting, Frame to Finish Carpentry, Tile Work, Hardwood Flooring Installation sand and finish, Frame to Finish Carpentry, Blue Board Hanging and Plastering, Plumbing, Electric, and HVAC.

It's definitely outdated I agree and I think at the very least I'm thinking new backsplash, sink/faucet, countertop, and a dishwasher that is relatively quiet (The black thing is a dishwasher by the way).Any work done on this house is all my own labor for sure as I enjoy projects and am in construction myself (hardwood flooring).I have been torn between what to do as doing some live in flips sound fun to me while I continue to work, but the idea of cashflow each month sounds good too.

I instead decided to tear out the old carpet and refinish the hard wood floors and plan on moving upstairs once its done and rent out the lower because its in slightly better shape than the upper.

It's a complete kitchen gut job, 2 bathrooms, converting a half bath into a full, paint/clean and refinish all hardwoods. 

I couldn't even get an occupancy permit without my hardwood floors being refinished or without having my bath tub reglazed.

The plumping in the house is new and it has the original hardwood floors, that appear to be in good condition and i would only have them re-finished.

Both are %8-9 APR but I will quickly cash-out refi once the rehab is complete in 1-2 weeks so I've only had to make 2 payments on each loan thus far.Rehab includes:Full Bath RemodelFull Kitchen Remodel w/ butcher block countertopsNew FurnaceAdded Central A/CUpdated ElectricalUpdated PlumbingRefinishing of original hardwood floorsInterior paint and trimExterior patch and paintRoof was only 4 years old a time of purchase and foundation is solid.Purchase Price: $42.5KRehab Cost: $30KTotal: $72.5Comps: $90-140K (Average $115K)Potential Profit: $42.5KFinal decision on whether to sell or rent will depend on appraisal.Photos will be uploaded within 1-2 weeks once complete.

also, they have high turnover expense because you will be repairing broken flooring (yes, imagine holes in hardwood floors).  

We refinished the hardwood floors, and updated the tile and other flooring.