Counted this as a 45k asset but in truth it could be slightly higher or lower, there is a lack of inventory in this market so I am hopeful it will go for more but I am budgeting 45k.Deal 4 Bought an REO for 12k, rehabbed and all in for 20k, property value is 60k, posable more if we sell as a turnkey to a CA investor.Deal 5 Condo in Chicago, bought NP note (owner died in 2007 and nobody has paid since) paid 22k for the note, property rents in that neighborhood are @ 1,100 a month and the property is worth 60-70k based on estimates from a BP realtor in this market.Deal 6 bought a vacant REO for 5k, paid 7k in back taxes and put 18k into rehab, rented for $875 staring June 1st and worth 60k based on neighborhood comps and feedback from our PM/Realtor.Deal 7  Bought a SFR in souther IL for 12.5k, needs 30k in rehab and BPO's came in at 65k and 70k, I counted this as a 20k value since we will need to put more into it.  

For fix and flips, the best finishes depend on the neighborhood, target buyer, and your budget.

I would also increase your underwriting rehab estimate number by 15-20% since most renovations go over budget.

Knocking off $4k for that additional bathroom let's say it's $170k ARV, looking at this for a flip and using the 75% formula and a $120k buy price that only leaves $7500 for a reno budget - I'm no expert but I'm pretty sure it'll take more than that! 

For your budget, Midwest cities like Columbus, Indianapolis, or Pittsburgh are solid options with affordable MFH properties and growth potential.

Quote from @Galant Ant: Permit delays in NY can derail timelines and budgets for developers and flippers.

If you do it right, it’s arguably the best market to invest.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: .9%-1.4% rule dealsCoc ROI: 5-12%Total ROI: 20-40%Cash flow: $50-$250/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the “sweet spot” in Metro Detroit.

I would base your answer on buying the bigger one (within reason) that will fit in your space that fits your budget.  

Quote from @Galant Ant: Permit delays in NY can derail timelines and budgets for developers and flippers.

California's housing prices are too high for our budget, and I'm at a loss.I'm seeking your advice on alternative ways to use these funds for good.