Cash offer on distressed home in the Winter, rehab finished by April, live there for the summer with no mortgage (maybe paint the place), search for/place tenant around the time I leave, cash out Refi when tenant is placed.

I payed the $1,800 for it a few years ago and started it but life got me distracted and I didn't finish trying hard enough. 

You can:* accept as is (or ask for credits)* demand the seller fixes it and gets town sign off* demand the seller rips it out (e.g. an illegally finished basement)In theory, these changes should be grandfathered in and aside from legitimate safety concerns (e.g.

Otherwise, rent ready does a lot for your peace of mind, saves you cash because you aren't renovating it and you can collect rental income right away instead of in a few months (took us 5 to finish our renovations and cost us nearly $3k a month to hold it). 2 bedroom homes usually don't make sense numbers wise - too many set costs in building a home that make 2 bedrooms higher PPSQFT and the appreciation isn't as strong.

A little background though...last spring we finished a long renovation by mid-May and didn't get the house listed on AirBNB and Vrbo until early June, which was much later than we were planning, and we still filled the rest of the weekends for the summer.  

I’ll finish up my license asap that’s been on my list as well I started taking marketing and business classes at my local college. 

One contractor claims he can finish the job in a day with three workers, while others estimate it will take a week.I'm not sure how to proceed with this situation.

A little introduction, just trying to finish getting my profile setup.

As for use as "finished space", a basement can add SOME value but typically the head height may be lower, it doesn't have large windows etc.

Then when you finish repairs, depending on the time frame you would have lived there as a primary residence at which point move back with parents and rent that unit for even more because you just rehabbed it.