Upon purchase we worked to develop and improve infrastructure around the property.

It is a straightforward flip that will take me approx. 3-4 weeks to complete and estimated profits are $30,000-$35,000.If I keep it as a BRRRR here are what the numbers look like:$145,0000 - Purchase Price + Closing Costs$30,000 - Improvements $1,500 - General holding costs (taxes/insurance/utilities)$2,900 - Loan on unsecured line of credit All in - $180,000Comps are around $225,000, which would put me right at $168,750 (75% LTV), this means I would leave around $12-$15,000 invested in the deal after the refinance went through. 

Capex plus cosmetic improvements What was the outcome?

Both of these properties are 6 to 10 unit multifamily buildings, located what was a very rough part of LA that is improving, and has lots of investor activity.

There were all zeros in the column for "improvements", "fixtures", "household personal property" and "business personal property". 

Or if the larger deal you are buying has enough meat on the bone from a value add standpoint, you can force the apprecation by stabilizing expenses, pushing rents after performing improvements, and then refinance your new deal and pay off the hard money loans on your condos. 

You could also look for a home that needs some work, make improvements to improve equity and take out a HELOC to fund the next deal. 

Thanks for helping further  improve the neighborhood! 

Virtually all mobile home park deals are for the land and improvements, and moms and pops always seem to include a few park-owned homes, as well.

New Owners will have to clean it up but it will improve their ROI when they get a new renter in at market rate.