I believe the better value currently is finding a home that needs cosmetic repairs and allowing the PM to handle those and get the place rented out as someone else stated.

However, since the repairs took a few days and the appraisal took even longer, the loan came out of underwriting.

These lease breaks will cost me 100s of man hours trying to fill these vacancies, repairing damage left behind, and pursuing the civil cases.

., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.However determine the Rehab Costs are only a part of analyzing a deal, you also have to focus on determine the After Repair Value of the property in the specific Area/LocationIf you’re focusing on specific markets and ever want to discuss analyzing deals or strategies, feel free to connect, Our firm would love to help you!

Start with simple repairs, plan for vacancies, and ensure professional inspections. 

Hi @Lolo Druff, @Nicholas L. referenced my previous post about buying out of state - I've had mixed results in Indianapolis metro area, Class A (nice suburb, great schools) rental has done well but Class C has been a huge headache (repair costs, stolen AC unit, attempted break in).

I understand a fixer-upper would require a lot more work in accurately determining repair costs, finding good contractors, etc., but I think the learning experience would help set me up better for future deals.

Yes, you should have to pay for them.Blinds typically pop into a clip, so that might be 5 minutes to repair. 

So if you want to handle the extra work, like cleaning, repairs and all of the calls and texts, then go for it.

Some owners delay repairs, underfund turns, and create headaches for tenants, which ultimately falls on you.