I just bought a new property and I was wondering if I was going to rent this out, what repairs should I make in terms of the roof and should I add an addition?

And a nice rehabbed cash flowing house with a new roof, hvac, driveway, LVP floors and updated kitchen and bathrooms.

With builders offering in-house financing as low as 5.5% for investors/second home owners, and warranties on roofs and HVAC systems, I continue to support new construction as a solid choice for LTR buyers.

We're looking to renovate something before the end of the year to accomplish 2 things: 1) Improve home value so we can get appraisal, refinance and leverage that to buy a new property. 2) Take advantage of the tax credits that are out there in 2024 before the new year or is it better to wait until 2025 and just hold onto the cash I have at hand.Here is a list of renovations that will need to be done eventually:*Brand new basement kitchen (cabinets + add seating area - we already have brand new dishwasher, fridge, gas oven)*New standing shower in the basement bathroom*New Siding*AC/Furnace for unit 1 are close to end of life but still functioning*New Fence/landscaping*New Windows for the basement*New Garage (unstable, concrete shifting, very old)*Solar Panels on the roof (There is a $0 down payment lease option w/ sunrun, but I'm hesitant to move forward)*Renovate master bedroom closet for tenants (it is old & has built in entertainment center that is very dated)*Repair Catch basin*Adding better drainage system for back door.Greatly appreciate any help, insight or advice!

We hired another contractor (a church friend of a realtor that we'd used in the past and we trust this realtor 100%) and paid him $15,000 to start the same project and everything went great; he completed demolition, installed the new roof, and got some permits (roof permit, electrical, and plumbing).

Make sure your first property has no long-term cap ex coming like roofs, furnaces, sewer, etc so you know you won't get a 10k bill when you buy another one and lose profit on all across the board.

I'd have better chances of survival skipping down central ave Tehran with a Yamika singing fiddler on the roof tunes, in Yiddish, than I would just walking through parts of CA carrying a Trump 2024 flag......

He flew a drone and saw that there was more roof work than I felt comfortable taking on, ontop of some code violations in one of the units and exposed knob and tube wiring in the attic space.  

I already met some new contractorswho said can finish the work within the $60K budget, however, they didmentioned some things the contactor did wrong with our house that they wouldhave to fix (leak in our roof from our chimney, new gate hinges because they put the wrong ones on there and other small things).

It was the roofing scams combined with no cap on attorney fees for small claims.