- Class B property in Class B+ location with 8% below-market rents- Previous owner mis-managed the property by running costs too high- Value add: Renovate 10% of units, Install smart home packages, Implement valet trash, Install kayak dock on lake, Upgrade clubhouse and on-site gym How did you find this deal and how did you negotiate it?

I am not ready to start purchasing upgraded memberships, so I took my pen & paper approach to analyzing rentals and spent some time tonight applying that to an excel spreadsheet. 

The unit needs a little upgrade.

Purchase price: $223,000 Cash invested: $20,000Bought 3 bed/2.5 bath for $223k with $20k down, put $12k into cosmetic upgrades and added a lot of sweat equity.

(The screen door seems more like a headache to me that anything) What about upgraded fencing to up property value later or or chain link if adding a fence?

Just putting everything back into it to pay for some repairs/upgrades and also build capital back up so I can invest more.I don't have a 401k through work... so I can still contribute to Traditional IRA for this year, correct?

@Eric Michaels yes I have worked for an ibuyer and they are very accurate, however they also aren't trying to push the value based on upgrades they plan to make to the home.

@Hamza Qureshi main drivers include international student population, immigration (India, China, Syria, Bangladesh, etc), two major bridge construction projects (7-8 years of construction and Billions of dollars), revitalization of Detroit, low housing prices, construction, major infrastructure upgrades, and more. 

Some of my neighbors paid $15-$20,000.Has anyone in that area done the upgrade themselves.

It's a nice duplex that i can actually move tenents in right away but i wanted to do a few minor upgrades to maximize the return on both units.