Any property which is that high on a pro-forma basis is likely in a pretty rugged area and something that would need very hands on property management to realize anything approaching that return. 

I have a few pieces I can bring, but I still need mattresses, linens, a sleeper couch and chair, kitchenware, a rug, end tables, and lamps.  

They can put down their own throw rugs that they'll never wash and get all disgusting.

The ground game is really intensifying trying to build relationships for the purposes of acquiring knowledge, and wisdom, in the field of investment real estate.

We have bought some rugged fixers this way, that wouldn’t qualify for bank financing...and then refinanced later.

Your mortgage consultant can help - but some have been known to sweep certain things under the rug to get the deal closed.

If it was a 4 year old rug, then 20%. 

You don't want to throw all their junk away and then claim that they had a persian rug worth thousands of dollars in their living room that you threw away.   

"ALL the plaster has to be stripped, ALL the subfloor must go, the blower motor on the furnace can't be replaced for $250, the whole furnace has to be replaced for $6K, we can't use a mix of select and common-grade hardwood flooring, it all has to be select, even in the closets and the middle of a Western PA living room floor that's going to be covered by rugs 4 seasons of the year...OF COURSE we have to have ALL the brick professionally repointed in the renovation, it's a SAFETY HAZARD the way it is!" 

Just torn it out and in noise suppression situations, replaced it with liners and rugs.