There will be some major cost savings involved when doing renovations, upgrades or just repairs if planned carefully and purchased in bulk.

Not being able to rent it out as a 2 bedroom is a lost opportunity.Since your mom purchased for cash, it might be worth talking to a lender to cash out so you can do the repairs/upgrades and then use the remaining money to invest elsewhere.

I am working with a new investor and they are looking to get their money into Real Estate investing, but they have ZERO ability to find/negotiate/buy/manage deals and the corresponding upgrades/rental etc. 

Units could maybe use an upgrade if I wanted to go more modern but really unnecessary.

Buy a few income-producing assets before upgrading your personal home.

We just finished that last R and are making a couple more upgrades to the unit we live in before we start airbnb'ing it and just started looking for our next project so we can repeat.

I found a duplex that I am interested in buying and here are the details: Asking price is $185k in the MLS Each unit is rented section 8 for $840 Taxes are $2900Insurance is $1250 Looking to put 20% From the pictures I would estimate it will needs about $20K for repairs/upgrades (needs new roof, 1 hvac and siding, cosmetic stuff)Most likely it will go quickly in our market in NC Looking to buy and hold for 10-15 years -What would be your offer?

slowly upgrading unit What was the outcome?

Upgrades done:-Full Master Bath remodel-Full Basement In law suite remodel-New Driveway-Replaced most of the windows-Jack and Jill Bathroom remodel-All new landscaping-Granite Counters added throughout-3 new HVAC units-New Electrical Fuse panelWhat made you interested in investing in this type of deal?

Wife and I are both AD Military and about to buy our second home (upgrading) at our current duty station and on the fence if we should rent or sell our current home.Current home is paid off so we don't need to sell or rent which is making the decision harder!