If the appartment is in decent condition but just needs paint and flooring let the tenants just move out without charge and fix them up.

The deal is as follows:Purchase price: $132,000Rehab: $165,000 (adding 2nd story of ~1,000 sqft; renovation of existing base floor of 1,203 sqft)ARV: $369,000 (based on comps, it could sell as high as $400,000)Profit: $44,000 if I borrow mostly from hard money (I will try to use a HELOC or conventional loan to increase the profit)I have an architect and a general contractor lined up. 3 months of rehab.

I have a few questions and wanted to also just open the floor to meet other investors and real estate professionals in this market!

Floors have a  10 year lifespan.

By the time you hit 12 years, you will be out of pocket for at least one (or 2) roof, 2 kitchens, 4 paint jobs, 2 new floors, driveway, and other misc items that will add up. 

Surely exceptional people can find success regardless of their situation, but there is a higher economic floor depending on your socioeconomic situation at birth.

I am buying a small office building and have a lease signed for first floor with bank. 

They’ve broken 4 windows, the storm door, damaged siding, ripped a 4 foot by 3 foot hole in the bedroom wall, and mangled the floors.

My fiancé and I previewed the property determined it needed light rehab, flooring and paint, ran the numbers, and they worked for us.

The bank requirements stated that the Contractor should test the kitchen floors and then encapsulate them, along with entire house.