We put in all new floors, new paint, painted cabinets, fixed some more cosmetic things.

Are you going to buy cheap unfinished cabinets from Surplus Warehouse and then have them stained, or are you going to splurge and get some custom oak cabinets made from a reputable cabinet maker?

.* We did some interior work - tiles and cabinet - to make it more presentable. * We switched Property Management Companies - Normally, this wouldn't be that big a deal.

two deals to see which one to go: all will be 30% down, 6.25% interest, but two different areas in the same city.1. 1957 SFH 3b1.5bath in a B neighborhood, 330k purchase price, renovation budget 30k (floor, paint, AC, kitchen cabinet paint), target tenant is a working-class family with kids (right next to an elementary and middle school), rent about 2200-2300.2. 1940 SFH 3b2bath with good bone, 480k asking price, on the market for 90 days already, the targeted purchase price 440K, renovation budget 50k.

For example, will your project be fine with off-the-shelf cabinets from home depot, or do you need a custom solution?

The house was built in 1953 and had the original flooring (asbestos) and kitchen cabinets, int trim & doors were original knotty pine.

Material prices are also dropping quite dramatically (lumber, cabinets, flooring, tiles, etc.).

I have painted cabinets in my rental house with the contractor grade cabinets, myself.

Comping and rehab.Being able to pinpoint the value and also familiarize yourself at least with the basics of what certain things cost (Paint, flooring, cabinets, countertops, vanities, shower tile, lighting, roof replacement, HVAC replacement, window replacement, pool resurface, etc) is crucial to being able to figure out what you can offer / what an investor will pay for the propertyThen learn how to reverse lookup buyers and what they are paying as a % of ARV in certain areas and use all of those things to start making offersPhil is mostly into STRs now not as much wholesaling but I've wholesaled 60 properties in the past 6 months and these are the areas I focus on

We hire out all except flooring and cabinet installation, tile, trim and interior painting.