Depending on the height of the room, I have had good success having my drywaller encapsulate it by going right over it with 1/4" drywall and refinishing the ceiling.

Purchase price: $126,000 Cash invested: $35,000 Complete remodel including roof, landscaping, all 3 bathrooms, refinishing wood floors, countertops, carpet, tile, foundation What made you interested in investing in this type of deal?

I would refinish those (you can paint with cabinet paint or there are kits you can buy at HD that are pretty decent), new counter tops (I use epoxy a lot), and update the flooring.  

Refinish the floors, and get new counters and appliances.  

- Going to be remodeling each unit (new appliances, bathroom, countertops, refinishing floors, etc)- Changing heat from gas to electric because electric is metered so tenant pays- Adding AC to each unit, which will be electric also- Improving common areas- Improving curb appeal Might build 4-6 new units because the lot is very large What was the outcome?

It was also situated in one of the most desirable neighborhoods in Brick, NJ.Lucky for us, someone had just refinished the hardwood floors so we decided first to cover everything with a protective, high-density cardboard product.

House got a total overhaul of brand new paint, refinished flooring, completely gutted bathrooms, brand new roof, new electric panel, new granite, new appliances.

In the living and bedrooms, all rooms got brand new fans, paint, blinds, and refinished hardwood.

My local lender at the credit union was a big help to get it financed initially and then have the flexibility based on my past performance to only require a small seasoning period to be able to refinish the cash out.

My local lender at the credit union was a big help to get it financed initially and then have the flexibility based on my past performance to only require a small seasoning period to be able to refinish the cash out.