You can take that money and finance another condo that you can fix up and live in, (thus resetting the 2 year timer for when you can cash out without paying taxes).Ideally, you could do something along the lines of house-hacking, but multi-family rentals in orange county right now is priced pretty high, and its very difficult to find something that cash flows  (Although with a 100K down-payment, maybe you could make something work).Keep up  the hustle!  

anyway:I assumed $120k all in, with 5k in reno, it would be plausible to "discover" another $5k issue, otherwise I normally assume +20%, which would only be $1k here...anyway:[email protected]% for 30 years: $625 a month (after refi)taxes: 300 a monthInsurance $60/monthVacancy (1400@8%) = 112repair contingency $60 a month (4%) Capex $60 a month (4%)management fee $100=$1317the repair contingency is accounting for an update/refresh of something in 5 years to max resale (floors, kitchen/bath, whatever) and backs up capex if something goes to hell early.anyway, it was just an exercise of a representative home.  

Which Allure flooring have you used and would recommend for a rental including in kitchen and bathroom?

We are hoping to remove one wall to open up the kitchen as well.  

If this turnkey is fully rehabbed with many new or near new major items - updated kitchen & bath, roof, mechanicals, flooring, etc and there are a bunch of distressed properties in the area at those lower prices, those aren't true comps.  

Here is what I have so far: Add wash and dryer unitsStainless steel appliancesUpdate light fixturesNew hardware for bathroom (cabinet, sink, shower)New hardware for kitchen (cabinets, sink)Build a fence around ground floor patio Build carportsRUBs programCharge for garbage pick-upAmenities based on demographic (soccer field, BBQ pit, etc.)Adding an extra roomFor other multifamily investors out there, what are some ways you've added value to an apartment to raise rents?

Kitchen looks amazing!!!

This is one of the main reasons why "Big Box Real Estate Co's" don't take on part timers (or investors).

Kitchen, bedrooms, TV area.

Hi Everyone!Its been great reading all the great articles and books available on the site and it seems like its time to take action. I have been going back and forth with the idea of real estate investing and an oppor...