Purchase price: $225,000 Cash invested: $60,000 Sale price: $391,000This was a risky flip as there wasn't many comps in the area however we highly relied on the COVID market at the time and the fact that the property was the only five bedroom 3 bathroom home close to 3000 square feet in the area.

one heater per unit would definitely require a meter upgrade or adding more meters (theres currently only one shared gas meter). i normally wouldnt mind doing that but the complexity it adds for me is high, making room for extra heaters, coordinating tenants to get their gas in their name, as well as the cost of repiping everywhere and multiple heater units, plus i would still need a common meter anyway for the boiler. if this is necessary id probably stick with two tanked heaters, or one 80 gallon.and, the 200A electric is already crammed with ac and stove circuits, so thats a no go without a major overhaul.im glad to hear some news that a single heater in a 4 season location is working well for you; im also having a contractor come out to give his opinion and a free estimate as well in the next few days. no reason not to have him size it up for me professionally, too.my kids arent old enough to try and hog the bathroom while im taking a shower yet (they are 1 and 0), though they shall regret the day they try ;)

I also ended up replacing toilet's, vanity's, fixtures, receptacles, and then had to fully furnish the property.

If this is your first rental property - I would suggest getting something 'easier'.Get a property that is almost rent ready that doesn't require much to get it livable.Say okay to properties that may require painting, a new roof, new HVAC, new waterheater.Say no to Water damage, fire damage, foundation issues, bathroom / kitchen remodels. 

Today, my tenant called to let me know that she is smelling marijuana in the bathroom of the condo. 

(Common bathroom might be the dealbreaker...?)

I painted the main living spaces and the master bedroom, rehabbed the kitchen (painted the cabinets, replaced appliances, replaced the counter top, and installed new flooring and light fixtures), gutted the master bathroom, and closed in a window that looked into the foyer(I could never figure out why someone put a window there).After doing a little bit of reflecting, I wanted to share some of the biggest lessons learned throughout this process.1.

I have 4 bedrooms, 2.5 bathrooms, an office downstairs, and a 3-car garage.

Purchase price: $110,000 Cash invested: $20,000 Sale price: $185,000 Demolition of rear extension to floor slab, rebuild on same footprint, new kitchen, bathroom and cosmetics.

We are looking to renovate the master bathroom.