We added hardwood flooring, granite countertops and added new HV/AC along with all the regular cosmetic repairs (paint, landscaping, etc).What was the outcome?

One is in impeccable move in condition, the other isn't horrible but needs some cosmetic work.

Cosmetic rehab, HVAC update, electrical update.

I could potentially rehab it enough to get it rented but AC is on last legs, carpet is old with a few rips, every faucet has some type of minor leak, master bathroom shower is disgusting looking but with some minor cosmetic help, it could be ok.

I have a few more repairs to do mostly cosmetic, and then we will be reappraised!

Purchase price: $150,000 Cash invested: $25,000 Sale price: $222,500 Moderate rehab with mostly cosmetic items including tile flooring, refinished kitchen counters and bath tub/showers, new bath vanities, all new light fixtures, new hardware throughout, and refreshed landscaping in front and in back.

Purchase price: $150,000 Cash invested: $25,000 Sale price: $222,500 Moderate rehab with mostly cosmetic items including tile flooring, refinished kitchen counters and bath tub/showers, new bath vanities, all new light fixtures, new hardware throughout, and refreshed landscaping in front and in back.

You don't want to do a lot of renos (as you don't have a lot of money), so look for homes that require a cosmetic fix (paint). 

I know it's cosmetic, but I just got SO disappointed that a turnkey DID NOT have flooring at all in that bedroom???

There is a large inventory of homes in towns like Hazel Crest, Markham, Dolton, South Holland, Glenwood, Chicago Heights, etc - where you can purchase for $50-75K, do $15-30k worth of cosmetic rehab, then rent for $1200-1500/mo.