The building is pre-1978 construction, so we need to "Renovate Right" and take precautions related to potential lead based paint.

-- As I think I stated in the post, expenses include:( Ins + Property Tax +Maint & 95% occupancy rate)-- $2425 is gross monthly rent-- The $35K is my estimate to redo bathrooms, kitchen , paint & retape split corners & paint outside as it is still in it's original decor from 1968 when it was built.

I try to make my buy and holds special by adding granite, tile, hardwood, stainless appliances, new HVAC, and trim such as crown mldg and a three tone paint.

The tenant is also claiming the unit had lead paint.

Edit: found this shot, not a new kitchen, but I painted the horrible old cabs and built a new top.

They painted and put in appliances and some flooring in two of the bedrooms and that is it.

The property has been vacant for 3 years and needs about 25K in renovations (paint, carpet, appliances, roof repair, etc.).

I got my Realtor’s licence in the state of MN as well as ran my own painting and handyman business for seven years working closely with a Realtor friend of mine fixing and preparing properties which were about to go to market.

In our first home I was able to redo our kitchen cabinets by painting them and adding hardware.

They have calculators like a rehabber both 'top down and bottoms up" where they may create a bottoms up calculation like: 30 square roof with decking, insulation, paint, GC fees, new electrical, for a kitchen fire * depreciation, if applicable Or a top-down estimate: If kitchen construction costs in the area are $200, then the may estimate, e.g. $200 per foot and you have 400 ft damaged = 400 x $200 = $80,000 * depreciation if applicable Some states, you get paid the policy limits even if they are higher than the replacement cost.