You have to include the cost of your time and the work, especially on a "scary house" is daunting indeed. 

Again, if your $250k is true, and includes all the electrical upgrades, new plumbing runs, potentially new foundation pour (since I assume the existing garage slab is not capable of supporting a new two story house), I am guessing since I don't know the market, but assume you will have a lot of equity by completing the project.

That ROE is actually including what I'm paying on the loan principle so it's not even real cash flow, just money I'll get back when I sell.

This will be my first year filing taxes which will include 1 rental property. i do my own taxes since it's straight forward with one W2 and now a investment property. 

Your screening should include screening the pets.

Purchase price: $640,000 Cash invested: $220,000 Purchase price $640,000Got it at this price because there is a non-paying tenant in unit 2 (rent value $3,500), we're in court Rehab $60,000All in cash (rehab plus down payment) $217,500Rehab included ground level basement and 2 parking spot drivewayMonthly cash flow $1,500 ARV $950,000Equity $470,000Refi cash out (August 2024) $150,000 (used to buy new rental)New monthly cash flow breaking even (non-paying tenant still in unit 2)New equity about $200,000

 @Michealsoto Hi Michael i nust got banned from messages as well inly sent the one on forum but does it also include inbox if so i will watch what i send next time please help im looking to grow my network thank you 

Despite facing setbacks, including a year-long renovation process, I tackled the repairs, improved the interiors, and addressed all concerns.

Just make sure that you include this requirement in your costs.

I'm a new (soon-to-be) investor although I'm narrowing down my buy box including the market and strategy.