Vacancy typically always costs me at least 1 month of rent on average, and the tenant turnover can be costly if it involves interior cosmetic repairs to get the unit ready for the next tenant.  

Most using the BRRRR strategy requires more rehab then just cosmetic.  

I wished that I had just left the scope of work to capital projects, it wasn’t worth the hassle dealing with drywall/paint/cosmetics trying bring up the value when I have a huge HVAC scenario that needs to be dealt with now that everything is completed.  

Full rewire, plus cosmetics.

Being able to tell the difference between a cosmetic blemish and a full-blown, $25,000 problem is a valuable skill, in my opinion! 

A renovation line item spreadsheet (which can be found on BP, will help, but if you plug in garbage, you will get out garbage), so take some time to network and speak to investors that have completed projects, speak to contractors that are doing cosmetic remodels for flippers, listen to the recent BP podcast on finding Rockstar Contractors - tons of amazing tips I got out of there.  

But try to stick to cosmetic rehabs for your first one, especially with a limited budget and very limited time. 

We did cosmetic updates throughout the whole thing (new roof, floors, paint, trim, fixtures, bathtub).

Some cosmetic updates are needed to add additional equity.

They say that they’re willing to handle everything that’s not cosmetic.