Of course, what they paid isn’t going to take into account the money they have spent on renovations or remodeling, which can be substantial.  

The big thing that determines the price is what actually has to be done and the finishes that you select.I know you said it is a gut remodel but are the floors still good? 

Both bathrooms need a complete remodel as well as the kitchen, the ceiling in 2 of the bed rooms are bowed (previous roof leak that was fixed) so new ceiling drywall, appliances, flooring, and paint throughout.

Hello everyone,I am from Alexandria, VA located at the border of Washington DC and Prince George County, MD working for a kitchen and bath remodeling company since 2017 known as European Granite Design that also fabricates granite, quartz, marble and quartzite countertops since 2003.I'm experienced Sales and project manager also designs kitchens & bathrooms for remodeling.Using my expertise and connections I want to start working for myself flipping old condos or houses in the Washington DC, Maryland and Northern Virginia (DMV) area.

If he's only doing bathroom remodels, that would make sense to not bother.

I am more likely to take a risk, but i suspect when my husband is out from under a controlling baby mama, he won’t mind a little risk either.I love Texas, try to vacation there often and my husband is aligned with Texas farm property as a ten year long term goal.I’m also passionate about the trades and if i could do it all again I’d be part owner of some kind of builder or remodeler or specialty trades business. 

This place has two SFRs on a lot, needed both to be fully remodeled with AC placed, windows and a lot of other stuff.

Also how many other land lease properties are sitting on market against yours even if they're un-remodeled.

Quote from @Scott MacComb: I am doing my first true house flip (have remodeled plenty of houses for rental) and am trying to figure out a contract to use with a new general contractor whom I have not worked with previously. 

It was a rental for us about 1-2 yrs after a major remodel.