Including equity with the debt paydown this would be a ROI of 11.9%.The home is advertised as in the finishing stages of being refurbished/upgraded with some finishing touches still needed on the outside (although it sounds like they intend to finish the work and have it move in ready before selling, I’m just going from a Zillow post here).  

The exterior was completely upgraded as well.

The exterior was completely upgraded as well.

It is LEGIT 5 BEDROOMS 4 FULL baths and ALL upgraded in a gated community with a pool.

Had to do about $2000 in upgrades, and inherited long term renters. this was a home run for my first deal.

This house by being totally new was the upgrade.

You should of just told her that she rented the unit in its current condition and you are not planning on making any upgrades at this time.

Do a significant upgrade to the finishes. 

Just planning this as an expense because I will need a level foundation and subfloor if I want to address interior upgrades, so this can't be deferred if the plan is improve and raise rent.Running estimated numbers on 5k per building to level them (not even sure that's totally needed yet) and putting rents to market rate gives me a 5.5% cash on cash.Budgeting 5k per unit (again maybe too high but assuming I'm outsourcing a lot) and moving rents to market of $550 each puts me at a 7% cash on cash with two adjacent improved property on a desirable street in my area.

Also they did not used the sprinkler system at all for the time they were there.)So ok, we told them they have to sod those areas.Before they moved out, we decided to upgrade the sprinkler system, so the next tenants would have easier time using it.Once they moved out, the next day I have gone back for a walk through (I had to work on the day they moved out and wife was sicked).