11DefineConsult an interior designer12PlanCreate project plan (timelines, key dates, who to contact)13PlanCreate budget and brainstorm financing options14PlanSecure financing15BuildGet permits and licenseses16BuildGet water/electricity/power hookups set up17BuildPrepare for build (e.g. lay foundation)18BuildBuy structure19BuildBuild and remodel structure (insulation, electric, siding, etc.)20BuildBuild out interior design (e.g. paint, decorate, etc.) and buy appliances/decor21BuildBuild out lawn and landscape22BuildFinalize the exterior of the building (e.g. paint and fixtures)23MarketTake photos24MarketCreate listing25MarketCreate websiteThanks!

A benefit to having the commercial property and entity is that we aim to utilize business credit, so that our personal credit and debt to income ratio is not tanked as we remodel or redesign or buy furniture. 

When we needed money it wasn't available due to low FICO scores from remodeling, DTI and so forth, so when we think of a possible financial pinch coming in advance, and can draw from a HELOC, that helps out a lot.  

Now if I remodel the kitchen, bathrooms, doors, windows and some other stuff I could probably rent it out for $650-$700, increasing my cash flow, specially when I move out.

Hello,We just finished remodeling a house in the twin cities and we have an inspection to rent it.The inspector said that we were not supposed to change the vanity and the outlet by ourselves.

And while that depreciation may be disguised by inflation, or area price increases, money does need to be spend as systems such as HVAC need replacement, roofs need to be replaced, and capital expenditures such as kitchen remodeling are needed for the asset to be rented at a profitable rental rate.

Hi All, We are doing a home remodeling project, and our GC has done a poor job.

A 2/1 in Hagerstown was getting almost $2,000 (Newly Remodeled) now we're down to $1,600 plus.

Complete remodel, redid or replaced all flooring, plumbing, electrical, new roof on the garage and retied all the windows.

You could even use this strategy with your extra cash to buy in cash, do light remodel, and then cash out refinance most if not all your equity.