id=1IaAr5B1WeT...Cleanup Job (Low cost fast flip): landscape package in front remove deckremove vines from house clean exterior, fix siding and wood rot, paint neutral beige/gray color clean driveway/weed, clean retaining wall/pavement replace flooring with mid grade flooring bottom level, carpet upstairs replace interior fixtures paint interior white trim, light color beige/gray walls, popcorn ceiling removal new kitchen appliancesRehab options: Replace deck with new one (kind of awkward that high to me) vs Remove and fill in wall or add large window to master.Potential space to move laundry into upstairs bathroom closet vs basement Can maybe get away with toilet/vanity replacement in each bathroomUncertain if painting or replacing cabinets with ikea type is worth itAny in-ceiling lighting will open up codes stuff with electrical since it is out of dateRepave/fix concrete front porch and side porch - replace/paint railingReplace front walkway cement, or remove walkway and replace with right angled walk to driveway (may not provide ROI)Tear down vs paint garage port in back yardWhich do you think provides highest ROI? 

Even if you set all the cash-flow aside, it would take a year just to build up a $2,000 reserve which isn't enough to replace the carpet in one unit and that doesn't cover cleaning, other repairs, vacancy, etc.I don't know enough to make the decision for you but the margins seem really thin based on what you've shared.

., replacing linoleum or shag carpet with ceramic or laminated wood when it goes out of style.LL profit is what's left after taking out the obvious expenses and not-so-obvious expenses. 

I do no use carpet.

Many new investors might want to find an older property that has ‘good bones’ but has red shag carpet and wallpaper.

Depending on the work you may not need a permit (patch and paint, replacing carpet, etc.) 

When the unit was fixed up, the carpet was cleaned instead of being replaced. 

Walls may need paint, carpet, if you have it, may need cleaned or replace.

The basement does have a bizarre raised carpet.

And you can't come in and replace the carpet if I'm still in posession of the house."