Once I closed on the property I started to tear down the walls and notice that had no insulation, at that point I decided I going to tear  everything up. when I took the sheetrock from the ceiling, I was in shock to see that some electric work was done with duct tape. 

Detailed renovation costs and rental numbers posted below: Item Cost Demo (includes removing kitchen wall & installing support beam) $1,500 Exterior paint & siding repair/replacement as needed $4,500 Roof repair $350 Foundation repair/basement waterproofing $6,200 Renovate existing bath (new tub & fixtures) $975 Build new staircase to access attic $3,600 Finish attic space (reinforce joists; install subfloor; insulate; install windows; framing; electric; drywall; add bathroom) $19,500 HVAC $2,000 Tile tub surrounds in both baths* $600 Electric (new fixtures/outlets/switches)* $400 Interior paint* $800 Flooring* $1,900 Misc carpentry (trim work, shiplap, floating shelves, etc.)* $575 Misc (landscaping, kitchen faucet, door & cabinet hardware, drywall repair, smoke detectors, etc.)* $600 Utility costs during rehab $200 Closing Costs $2,000 TOTAL $45,700 *DIY jobs; cost listed is for materials only We have almost a dozen showings lined up this week after just a few days on the market, and hope to have a tenant selected over the weekend.

Having property held in an LLC to be personally insulated from liability of its activities is great and all,   but then having to have your name all over it as a member and put out there to the public by the state for everyone to see????    

STRATEGY FOUR: CPACECPACE, or Commercial Property Assessed Clean Energy, is a low cost financing option for commercial real estate owners looking to improve their property by adding energy efficient improvements (i.e. windows, heating, insulation, water service) allowing them to increase the value of their property while at the same time lowering their energy costs.

Knocked down a wall to one of of the bedrooms to create an open concept kitchen/family room (changed the original family room to a bedroom), insulated those walls, drywall/plaster, new electrical (all knob and tube), moved plumbing in the kitchen, new kitchen, painted every room and sanded/stained the hardwoods.Options for the unit the tenants are moving out of 1) Cosmetics (1 month - Rent out February 1 or sooner)- Paint rooms- Sand floors?

This gentleman didn't even want to put in insulation in the house.

Needs all new drywall and insulation.

Should we spend the $500-700 to add insulation to the recommended level?

Real estate is more expensive here than some midwest or southern places but people are still moving here, which I think will help insulate the area from a major correction.We also have soccer and an NBA team.

(Vested in your personal name) as long as it’s over $50k, but the low dollar ones the cost may be prohibitive to go secondary, you can just do a commercial note with a balloon as long as you keep your LTV low to insulate from a downturn.