The house was in move-in ready shape, but some updates were needed such as bathroom remodels and window repairs made.

I came across a single family property that has a kitchen in the basement without a permit as well as the deck on the backyard.

We also redid the flooring throughout the home with LVP and updated the kitchen cabinets.

To help this we are going to update the kitchen and put time in the bedrooms that have old carpet (thinks we wanted to do anyway)2.

When a tenant moves the average cost to paint, install carpets, repair or replace a faucet, toilet, broken kitchen or bathroom sink, etc. is never less than $2500.

So for what I get, it's fine.It DOES NOT PAY FOR any windows.

This caused about fifteen thousand dollars of damage to the kitchen area but with the exception of the kitchen area the apartment is still livable.

Your boots on the ground will be most important in understanding the neighborhoods and checking if the areas are well kept or not--especially since Indy is well known as being very street by street.We have had some attempted break ins in our vacant units, but this can be mitigated by getting appliances towards the end of the rehab and not putting them by windows, boarding up/covering windows, and getting a security system like simplisafe.

Kitchen will likely be $15k, if all new is needed, roof if often $6k plus, HVAC another $6k, and add some bathrooms, paint, lighting, etc and you have likely blown through the equity upside in rehab costs.  

One of the tenants is moving out on 9/17 of the studio; I would like to do a quick remodel of the kitchen before leasing back out.