I bet over time you will make many more deals and get paid to do it.. as opposed to trying to circumnavigate the RE rules ethics and laws.

You bet Tylor.

I would expect you can bet on pretty good appreciation in the next 5 years if your place has good bones.  

Oddly enough it might have worked out as the market is really strong in our area right now.I figure we will list our SFR house within the next month or two as we are completing everything.So my numbers have changed a bit from my first post as I have been spending money on remodeling while supporting both my wife and I.Projected financials April 2016: 215k liquid with approx 4k per month residual income.Now once we sell our house and sell/store our personal belongings we are going on a 2-3 month road trip.

That's why I'm thinking that the HML would be the best bet for my first go around although the more costly route.  

I haven't talked to a building company since I am just currently browsing potential properties and analyzing them to get some more experience doing the calculations.But I can't really analyse any deals without knowing how much the refurbishment costs are going to be.I would like to know, what should be on the snagging list to make this into a proper kitchen and also what the approximate costs would be do to all of that.Property details:2 Bed / 1 BathroomCurrent offer: 110.000 PoundsARV: 166.300 PoundsEstimated repair costs: 20.000 Pounds (not sure if this is accurate AT ALL)Offer I am putting out: 96.410 Pounds (based on the 70% rule)Rent: 1000 Pounds per calender month (2 tenants sharing the house, 500 each)The property is located in an area with 3 universities and a hospital, so I figured there would be a good chance for letting this house out with 2 tenants (correct me if I am wrong).Here are the calculations that I have learned on my 3 day property investing seminar (UK based) and have implemented in my calculation spread sheet below.Please comment on the calculations if you see something missing or find odd.

Is our best bet just to rip out everything and install plywood subfloor throughout the house and then install new flooring? 

Might be too late now but your best bet is to attend one of the board meetings and plead your case.

I bet you get a lot I stares.

I think as a longterm hold it could be smart bet in the right location.