Plus, it would be a first renovation project, and other properties we may be able to close on are huge projects.

There is very little profit when undertaking $45K renovation projects therefore most qualified contractors will pass on those bid opportunities. 

Pilot a unit or two with this renovation spec and see how much demand you get from QUALIFIED applicants.  

Since the repairs were two owners ago, I would think the town may be a little more lenient with you.With the new kitchen and bathroom, were they existing and just got renovated or were they added on?

If there are newer multifamily properties near you (or properly renovated), definitely something to consider! 

Purchase price: $45,000 Cash invested: $40,000 Property Renovation Overview: 1453 Southfield Dr, Columbus, OhioWe are excited to showcase the extensive renovation of 1453 Southfield Dr, a testament to our dedication to revitalizing living spaces and enhancing the experiences of our tenants.

With your additional $100,000, you’d have a nice cushion to renovate or furnish a property like that.It really comes down to how involved you want to be and your long-term goals.

For that reason my money is elsewhere.You are almost never alowed to do your own renovations, and have to pay an application fee to get approval to do work on your rental.

Purchase price: $45,000 Cash invested: $40,000 Renovation Overview: 1453 Southfield Dr, Columbus, OHWe've transformed 1453 Southfield Dr into a modern residence.

I have a hard money lender established to cover 80% of the purchase and 100% of the rehab, so my capital partners would be covering:20% of the purchase priceRange of $30,000-$50,000 cost of capital25% of the renovation budget (to kickstart the project while waiting for reimbursements)$25,000 contingency padAny tips would be great, and if you happen to be interested yourself I can send you more details.