Not only will appliances and mechanicals need updating, but linens, furniture and decorations also need updates over time.

It is required to have a building permit/inspection and hire licensed professionals for Electrical, Mechanical, Plumbing, and structural engineering for load bearing, gas line work, and septic systems. 

New mechanicals.

You can focus on the mechanics of capital raising, the legal set up, good customer service, that's what I did when I got started nearly 22 years ago.

@Bryson Williams look up the rules for your state, in Virginia, if you own the property you can pull your own building permits and do your own work, this includes the mechanicals .

And thanks for reminding me to back fill some detail.Some things off the dome - disclaimer - there may be more:- we review the file for disparate loan amounts (ie underlying lien cannot be more than new)- we assist with getting insurance in place- I stay involved in all my wraps post closing - if needed- we have auto releases in our deed of trust to avoid needing seller when all are paid off- we provide POAs to handle return of escrows and insurance claim proceeds- we advise how to handle re 1098 tax notices- we actually step in if there is overreaching or errors in structure/contracting- we encourage 3rd party loan servicing companies be used- we require the wrapped note to be obtained and reviewed before closing- we encourage an RMLO be used to vet end buyers- we advise of all required state and federal disclosures be usedThat is all I have off the cuff -- but very much looking forward to hearing from others on their risk avoidance measures

I updated the bathrooms, floors, kitchen, Mechanicals, sewer lateral, Paint, doors.

I was very polite and empathetic about his situation which I told him he could contact auto or rental insurance to file a claim.

New mechanicals (electric, plumbing, HVAC), new kitchen, new bathroom upstairs as well as additional bathroom in basement and 1/2 bath on 1st floor, cosmetics throughout, and a finished basement.

Instantly I can tell the hottest markets from the normal and cold ones, and separately determine which one's I am priced out of due to crazy high values.As for your auto-ARV feature, yes it can be done.