Start with one that only needs some cosmetic fixes (minimal drywall, paint, flooring) and see how you do.

Cash offer on distressed home in the Winter, rehab finished by April, live there for the summer with no mortgage (maybe paint the place), search for/place tenant around the time I leave, cash out Refi when tenant is placed.

The only imported labor I saw there was the sheet rockers being mostly all from Canada (Quebecois), and many of the painting crews were Russian or Hispanic.

We have stared the project about a month ago, completely new interior including adding new HVAC all new electrical, flooring, cabinets, tops and so on along with new driveway exterior paint and some siding.My contractor is also an investor, so we were lucky there, good insight to share and also, he has lots of leads for renters.But he is NOT a good photographer LOL. here are some progress pictures .Also, I will like to share that we are closing on one more single-family property early next week and we have a duplex under contract._________________________________________________________________________________________________________________________________________10/12/2024.

Leave the ugly cabinets (or just paint them), leave a roof thats on its last leg and maybe has 4 or 5 years tops with repairs if that.My goal was to take down houses and by doing that, I was able to grow faster and offer more so I could get more. 

Honestly, the picture you painted sounds like a disaster.

In my example, the public adjuster is looking at what you are insured for and making sure you are paid WHAT YOU ARE SUPPOSED TO BE PAID.If you insured a Picasso painting for $1 million dollars because that was its value you would expect to receive $1 million if it was destroyed!

I lined some prospective new tenants kind of took my time, was picky, didn't find the right tenant yet, plus I had to get in there and paint/repair etc  but towards the end of the 60 days I was showing the place to some i thought was gonna fit and lo and behold the tenant calls me the day he suppose to be moved out and told me he changed his mind, going thru personal stuff and wanted to stay.

Painted exterior new color.

The tenant fails to pay their last month's rent and leaves the place needing new flooring and paint.