When we moved in we noticed that the house right next to us is being remodeled.

But no genius remodeling is going to rescue you from paying too much.

Then I thought about doing a semi-serious remodel to raise rents even higher -  to $1,100 - $1,200+.Here is what I decided. 

Complete remodel.

Ivy Tech has MUCH information about transferring those credits.Also, maybe the property you buy could be a remodel house hack in which you live and work on while going to school? 

I also look to put 20k in remodels (new bath , add a bed room and full bathroom to 2 bed unit) to increase the the value and will bring me to over 20% equity thus drop the Morgage Insurance of an estimated $115/mo. 

Here is the data:Approximately $200,000 to do the deal$190,000 purchase priceLoan 75%LTV $142,500, 25 year at 5% ($9996 PI annually)Partner Cash $35,000 for @40% equity (family) :)My Cash $21,840 @60% equityAnnual Rents $30,660Vacancy 5%Taxes $2070Insurance $1812Prop Manage 7.9%Snow/Lawn $75NOI: $20,000 approximatelyRepair costs are minimum as most are newly remodeled $500Acquisition costs . $2000Reserve account $7500The property is in a small town in Iowa near a decent sized college town. 

I had the opportunity to drive past the home yesterday and parked to find the remodeling contract outside the property, he was telling me how everything was brand-new and the foundation on the house is very durable along with the entire house as he designed the home.

We all have slightly different backgrounds: from hard money, to new construction, IRA investing, property management to apartment buildings and remodeling -  there is probably no question we can't answer well as a group and in the context of our local market.

I think I can rent out one of the units pretty easily (I'll be living in the other/airbnb) due to remodeling and proximity to St.