In all honestly it just needs lipstick and maybe (probably) new cabinets.

Is anyone doing "wholetail" deals or lipstick rehabs?

After all my years of being a law abiding citizen (not counting the times I ran yellow lights, jay walked, put on lipstick while driving... you get the picture.

The HUGE issue I find with people doing value add rehabs is that generally they lipstick it meaning carpet and paint and leave all the old expensive mechanicals, roof, and parking lot untouched.

No motivation can equate an ignored offer or a no answer.Also, I have found that in our competitive market, the deals that just need lipstick are typically priced close or at retail and difficult to get a large enough spread to make them worth doing.

Most guys on the site here just do lipstick renovations for rental purposes, so my model does not work for them.

Let's wipe the lipstick off this pig, people who buy with a lease/purchase genareally lack funds or credit or both.

But all too often sellers in this business slap on some "tax benefit" lipstick on a pig of a rental.There is a way to use passive losses even if your AGI is too high.

I'm sure, that in my area there must be at least 500 people willing to buy a house, add lipstick and sell it.

(I wouldn't even call most of them "rehabs" because they are mostly just putting a little lipstick on and flipping.)