Most of the repairs were done by my wife and myself at our own pace and most of the repairs were cosmetic.

We're half way through a cosmetic reno of a 16 unit in Pburg and are currently looking for a 4 plex or better to put some sweat and love into. 

We added value to this deal by making the following cosmetic changes:- Repainted the entire unit- Updated all outlets and covers to be uniform (a few USB where applicable)- Updated all light switches to 'flat panel'- Updated kitchen cabinet and drawer hardware- New stove & range- New sink outlet- New kitchen ceiling fan- New toilet- Deep clean & high quality post/advertising to emphasize the value the condo has to offer What was the outcome?

Most of the repairs are pretty cosmetic so I hope to complete and sell it within 90 days.  

Other than interior cosmetic updates it was move in ready!

The plan is to get into possibly a foreclosure or maybe a fixer upper with equity in it on an FHA loan, spend the time living in it saving and fixing the cosmetics and then getting into another place while renting out the first, rinse and repeat.

The plan is to get into possibly a foreclosure or maybe a fixer upper with equity in it on an FHA loan, spend the time living in it saving and fixing the cosmetics and then getting into another place while renting out the first, rinse and repeat.

Here's the details of the potential deal (my 1st as an investor):-Duplex in Glendale AZ-Offer Price: $139,900-Closing: $5,100-Estimated repairs per contractor: $15,000 (replace lead based paint, other cosmetic repairs)-Current rent paid by 5+ year long term renters: $1,400-Rent estimated after repairs: $1,500-$1,600-Other Assumptions: 25% down, 30 year financing at 4.65%, monthly repairs of $100, 5% vacancy, 8% management, property taxes of $77.17 a month, utilities of $130 a monthPer the calculator, using the $1,500 a month rental estimate after repairs I'm looking at $385.75 of monthly cash flow, a 6.51% pro forma cap, 8.4% cash on cash ROI, and a 7.95% purchase cap rate.Looking for thoughts on the deal altogether, and also whether it's a good idea to do repairs immediately since there are long-term tenants living there, or hold off on repairs until they move out.

They may be obsolete functionally and cosmetically due to all the innovations coming in the next 30 years.

It was necessary for us to risk labor and materials making some minor cosmetic improvements to the house in order for it to pass FHA inspection.