Could you share what your $15k will be going to (i.e floors, kitchen, termites, paint, etc) and the breakdown of costs for each?

Many of the investors over there who are successful live here in Memphis and they are hands-on, active investors.I also noticed that in the listing it states the the AC, plumbing, kitchen, attic, exterior and bathrooms all need repairs.  

All that was left was to finish the spaces with trim, flooring, kitchens and baths.

I found out the proper code for smoke alarms is inside each bedroom, within 5 feet on the outside of each bedroom, kitchen, laundry room, and one on each floor. 

You’d need to increase value to the house, add a bedroom, bathroom, significantly upgrade the kitchen/bath, etc. good luck!

Thanks @Merrick Loveland I guess what I meant by spec is the fact that they are very similar finishes, and slightly lower grade materials than I would put in any of my flips at that price range, especially in the bathrooms and kitchen to be more specific.

And kitchen cabinets.

If you did an inspection on it, some of those should have come out but you should look at the bigger items (roof, furnace, flooring, bathroom, kitchen) and see if those are in fair condition, at least to get you started.

I trust her judgment completely.I have had several deals sent to me first before being offered to other investors.As a recnet example of a deal we analyzed was a wholesale SFH in a pretty decent shape in Phoenix selling for 310k with a 400k ARV if finished nicely (kitchen, flooring, bathrooms - mostly cosmetic).This is one of the better deals and would actually make a nice flip but for a BRRRR to work there, I need to be @300k after rehab so looks like this property is selling 40-50k too high.Most of the deals I find are seeing similar purchase price to ARV spreads.Id love to get some advice!

Sounds like rehabbing a kitchen/bathroom, knocking down walls, and adding on rooms will come later down the road when I already have established equity to use towards paying on the rehab.