The biggest mistake new investors make is to walk a property, maybe explain in general terms what they want and then let the contractor come up with the SoW.For a bedroom this could be:- replace carpet- repair closet dooror- remove carpet- remove curtains, nails and screws- replace closet doors, entry door SKU#- replace window SKU#- refinish hardwood floors 144 sqft, clear/oil-based- prep and paint all woodwork- patch walls, texture, paint walls eggshell white clay, ceiling flat white- replace light fixture SKU#, replace lightswitch w decora/white, replace 3 outlets&covers- install blinds SKU#Obviously, the cost would be quite different.

I personally like multi-family properties as they have less capex (one roof to replace vs multiple) but that is just my style with investing.

I've got a cleaning/replacement sheet.

Easier to work on and if one craps out you just have to replace that one instead of the whole combo unit.

Not replacement and quit my job money. 

We have also done window replacements and replaced analog thermostats with programmable digital thermostats.Interested to hear if anyone else has had success with weatherization/insulating and other energy efficiency measures.

Inspections may cost more upfront, but they can save you from significant headaches and unexpected expenses down the road.Negotiate Hard: Use inspection findings as leverage.If the HVAC is near the end of its life, negotiate a credit for its replacement.If the cast iron plumbing is deteriorating and needs replacement, ask for a credit as well.Sellers often prefer negotiating credits over doing the work themselves.To give you an example: I was once under contract for an old house priced at $170,000.

I am debating about the converting the existing old gutted building to either multifamily building (6 units each around 500 sqft small studio) or mix of 4 residential and 2 retail/restaurant conversion (the back side of the property has Big enough lot for outdoor dining or any other use cases.Any recommendations for use case of pure multifamily or mixed of multi family and retail?

When I have seen this done or done this for clients, the properties being crossed are generally refinanced into the same loan, replacing your first lien (blanket/portfolio loan).

I am in the market for replacing my carpet and the cost for carpeting 1,100 SF is $8,000.