Purchase price: $5,000,000 Cash invested: $1,450,000 Complete combination and gut of two lofts side by side resulting in a 4,000 square foot home.

On the other side of the spectrum you have the investors posting in these forums about the contractor who walk off the job and shares how they hired them to do a SFR gut reno with updating mechanicals, new roof etc. for $45k and is wondering why they are running into issues. 

If your gut is casting doubt on it, you need to listen - even if you can make mathematical sense of it.

Study what kind of properties sell, for how much, and what kind of tenants live there.Think with a 10year+ vision, but a decently sound property (not a 1900 single family conversion that is begging for a full gut rehab), and but in the RIGHT location. 

Your marketing/efficiency skills could even juice up a JV with us down the line.What’s your gut saying—stick with SFHs to grind out that $2,500+, or peek at a multifamily shortcut with us?

Our instincts are to eventually rent it and use the income for payment assistance on a new home mortgage.

The property required a full gut rehab as it had been vacant for 15+ years.

Does anyone have recommendations for a contractor for an almost full gut property in Rochester NY?

Hello @Christine Vasquez,Many investors choose real estate markets based on gut feelings or popular trends. 

I'm guessing the project is $30k - $40kish.I'm lucky in a sense because my father is a retired contractor so he and I are going to do a lot of the work together.That said, a good friend of mine just did a full gut on a 2 family he bought in Medford.