This was not written to brag or smear, it was written looking for insight and big-picture thinking from other entrepreneurs. 

For one particular property the numbers look good and the property pictures don't look terrible, would probably require 15-20k of rehab. 

I have a business plan that will be put into motion soon.

Please see picture with the marker..Thanks!!

@John Casmon Scott Matthew C.Hey All -Much appreciated on the feedback, this has been really helpful.To paint a full picture, the original offer was based on verbal numbers and rules of thumb while placing a heavy emphasis on due diligence.  

Kitchens and baths rent and sell houses....I would not waste the money to expand the existing bedrooms.Do you have any pictures?

When taking a quick glance at the pictures, we don't consider houses that have pools or bars on the windows when evaluating for a rental.  

Judging from the outside picture, the property also needs some work (chipping paint on the trim, etc).http://massrealestatelawblog.com/2011/11/15/the-to...Hopefully this is helpful.

I think they usually retail at lowe's for 2/sqft Excuse the grout haze in the pictures.

The bank took all the pictures off zillow but the ones on before showed a pretty decent main house but the second unit was trashed.