@Babu Ramadoss If you are replacing the flooring and the house is vacant it is a much easier job for a painter.

We replaced this section just last year due to plumbing repairs, the rest of the driveway is only 3 years old. 

Last year we replaced everything HVAC in a flip for $5400 (Goodman), highest quote was $8300.

It does sound like there is a categorical difference in that evaluation versus staying relevant by keeping up-to-date with "must-haves" that are common among the top performers in your given market.

It sounds like you have to do pull the property out all at once, you can't take a percentage.  

Even though you may have a close relationship with this individual, everything you've just described sounds like a perfect opportunity to be taken advantage of.

BRRR sounds like a solid strategy, especially if you're eyeing distressed properties.

sounds like a good way to get things kind of buggered up if the deals go south. 

Not sure if/when we'd want to sell it thoughBut good things are:Low interest rate so relatively low mortgage paymentMortgage is paid off in 12 yearsArea is likely to appreciateThe house is old (1896 ha), but in solid shape with almost every major system being recently replaced/done over.

Now, an already occupied property might sound good for quick cash flow, but there's a catch – you haven't screened the tenant, opening the door to potential issues.