I hesitant to refi and add more negative equity with closing coats, as well as start the

I had an appraiser perform a subject to appraisal and he said that with a fresh coat of paint and some other cosmetic repairs, the property would appraise for $300,000 at this point in time on the market.

If it is actual wood, the stuff will suck up the paint like a sponge and you'll need to do about four coats.

Your unit hopefully will not need changing of carpets, window treatment and double or triple coats paint.

They will tell you how hard the surface (coating) is, but since the underlying wood is soft, dragging a piece of heavy furniture without a slider will crush the underlying wood and leave long dents (technically not scratches, I guess, if the surface isn't broken).IMO, your rip out & replace estimate sounds way high, at least for my area.

You should be able to get by with 2 coats unless the sheetrock is new(unprimed) or the previous color was very dark.Labor should be on the low end as painting is considered to be low skill work.

Although I think of an unfinished basement as something that could have a ton of potential but is still not a space people would spend much time, with the price we had placed on the house, the fact that it didn't have a second coat of paint on the basement walls and floors must of prevented folks from feeling comfortable with buying the house.  

After educating myself, researching the market, & looking for deals, I've decided my best get to jump to 50+ multifamily properties would be to coat tail an experienced investor on a syndication...

The most common term used by wholesalers "It just needs carpet and a fresh coat of paint."

You have no margin for error.You need thicker skin in this business.