I'm talking new siding, windows, roof, sheetrock, carpet, wiring, plumbing, hvac, doors, windows, kitchen, bath, basically a brand new house, less than 6 months old.

Carpets and laminate flooring get wrecked fast.  

$17500 purchase price (cash)$35-45k ARVCould use paint, laminate floor in the kitchen and bathroom, a stair needs to be fixed, and some of the carpet is old, but certainly not nasty. 

In NW Austin 10616 Mellow Meadows, 78650 was converted from apartments to condos--with, I kid you not, a coat of paint slapped on and new carpet--and sold to Primarily California investors for around 150k per unit.  

We're no different than plumbers, carpet cleaners, or construction companies - we all have to invest in establishing a name for ourselves in our communities.You don't just walk into this business and get a "trophy".  

Just because a property is available, even at a perceived lower price doesn't make it a deal.Hey, guess what, I've bought houses with no equity and profited, adding value is not always lipstick and carpet.

Overall the property is in great condition with 2 of the units having been remodeled, while the other 2 have newish carpet.

Pretty much the blind leading the blind usually.I did my first deal at your age, the circumstances were different, a very good family friend, a doctor's wife was in real estate, they owned a house as a rental and she sold it to me, actually, it was more of a wedding gift and I lived in the house.At your age, I had a carpet business, I worked with contractors and the public.

My general rule of thumb here in the Dallas area ranges on the low side of $6-$18/sf to rehab plus structural and mechanical.Taking a guess at your house, assuming it needs no work other than paint and carpet, light kitchen and bath update, and the home is 1,300 sq/ft.

The good thing is that all of the appliances are new within the last 5 years, laminate flooring and carpet within that same time frame, and a new boiler last year.Thoughts?