Rehab is kitchen remodel including adding a window, both baths, hardwood throughout common areas, trim package, new roof, and expanded deck.

Mid to high end finishes including exterior face lift.  3 bedrooms, 2 bathrooms, new hardwood flooring, central heating and air conditioner. outside of the home is not bad all, home is located in NJ if that matters

Purchase Price: $28K Rehab Cost: $25K Mainly cosmetic rehab major pieced are: gut/redo the kithchen and bathroom and install new systems, refinish existing hardwood floorsHolding Costs: $5KARV: $70KUsing a HELOC to purchase and rehab @5% interestClosing Costs $2KRefi into a 30yr fixed mortgage @5% interest with a 75% LTVRefi Costs: $2.5KGross Rent: $950/monthPITI: $430/monthMaintenance: 5%Capex: 12.5%Management: 8%Vacancy: 10%Any input would be greatly appreciated.

Dated cabinetry.Bathrooms- Tile flooring, tiled showers, granite top single vanity sinkFlooring- Original hardwood flooring mostly still in good shape, possibly some leveling here and there.Siding- Needs paintRoof- Good shapeHVAC- Good shapeOverall the interior looks to be a little dated but an attempt has been made to update here and there. 

rehab came out to 12k including paint, tiles, hardwood resanding, some appliances, electrical updates (moderate). 

Things like carpet can easily be replaced with something better (tile or hardwood floor or vinyl plank flooring), or an odd color in the kitchen can easily be painted to look a lot nicer.

Work done includes refinishing hardwood floors, all new kitchen, all new bath, exposing original brick (who knew that would be one of the hardest parts!

Tenants have been great and paying their rent on time and overall market is for 2bd rentals I've seen as high $2250/mo I'd like to eventually renovate the inside of the units redoing the kitchen, bathroom and hardwood floor throughout and possibly new windows.  

If you are not paying cash and have OO expectations of the process working with homepath really stinks for OOs.OOs walk through the property and say,  hmmmm this prices is great, decent condition, wish they didn't have carpets in that one room and had just put hardwood like they did in the living room.  

Now for the numbers on the property:Property Description: Duplex with 4BR-2BA total, in a good area within 2 miles of local, large state university; exterior condition is good as it's brick with new metal roof, windows, metal siding on trim; interior has hardwood/tile floors, new ceiling fans, lights, appliances, and paintPurchase Price: $118,000Down Payment: $23,600 (with closing costs credit from seller, final number at closing was right at $24,000)Loan: Commercial loan 15 yr AM, 5 yr balloon, 5.0% interestMortgage: $750/moTaxes: $200/moInsurance: $80/moRent: $2,100 (rented to four college students as one group; tenants pay all utilities)Est maintenance/repairs/cap ex: $300/moVacancy: $100/moProjected cash flow: $670/mo or $8,040/yr (est. $4,200/yr in mortgage principal reduction)Amount spent on repairs: $15,000 (majority spent on new HVAC/duct system and appliances)CoC return: 20.6%I think that covers most of the relevant numbers.