Basic Stainless Steel Appliance Package: $2,500 (frig, stove/oven combo, vent hood, dishwasher, with labor to install - we do not include microwave)New Roof: $4,000 (new tin roof - prices vary greatly depending on # of squares area on the roof)New Carpet: $2,000 (includes new pad with aprox. carpeted area of about 1000 sq. ft.)Bathroom Remodel: $2,500 (new ceramic tile shower stall, new ceramic tile flooring, new vanity, mirror, light fixtures, sink, and faucet fixture)Paint Interior: $3,000 (includes painting and some general drywall/finishing prep work)New Vinyl Siding: $3,500 (covering existing cladding with vinyl siding)Paint Exterior: $2,000 (2 coats of exterior paint, minimal prep work)All of these are VERY basic estimates based on a house with 1400 square feet of total interior space.

Good quality tenants take care of the property so most there are minimal repairs.

I guess I should pitch in with an update.

@David Beard :I investigated renting initially and came to the conclusion you mentioned - NYC just doesn't seem like a good market for renting unless your initial investment is huge.Critical for me is a proper understanding or risk involved Private Lending and ways to minimize it.

Will they come down as the deal is closer and you lay on the sale pitch thick?

There are some simple things you could do to minimize the loss of good potential applicants, but you've done most of the 'heavy lifting' by defining your screening process and asking the right questions prior to your applicant submitting the showing scheduling form.

Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

Stay away from the “guru” sales-pitch events - they rarely increase your investment knowledge, they merely empty your wallet!

We are mostly concerned with putting a high quality team together from the start so that we can minimize the prospect of running into challenges later.