Hi I had my property manager handle my renovation on a unit in Maine while I am living in Connecticut.

@Matthew Cook I would NOT pay for the renovations unless I was on title or had a very formal contract written about the split of profits.

Renovated the basement unit, new roof, new soffit/ facia, new gutters, new exterior paint that was paid for by seller.

Looks better for them and gaining a sale and higher property value gives a larger commission. 

LTV Consideration – The 60%-70% LTV is usually based on the After-Repair Value (ARV), meaning your loan should be within that range relative to the projected value after renovations. 2.

There is a catch - the couple wants to 1031 the funds into their sons next larger project which is TBD.

The one's I prefer handle everything in house, from purchasing the home, renovating it, renting it, then selling to an investor then managing for them on the back end.

Look for discounted run down properties that need renovation and change the layout during the renovation.

Are they all from smaller builders or one of the larger reginal builders? 

Leave the owners alone, when and if they are ready to sell, they will, and there will be plenty of lots to choose from on the MLS.I have no statistics to back this up, but in my casual observation after our fire is about 1/3 of the owners rebuilt their homes (some built similar, some duplicated exactly--big mistake, and some built better/nicer/larger homes).