Our efficient project management ensured the renovations were completed on time and within budget.

Property manager recommends Porcelain Tile (states more durable in long term) over luxury vinyl tile/plank.  

Listen to podcasts, watch online seminars, network, find a mentor, and use software for managing properties and tools to analyze deals.Start your first investment on a small scale, like buying a single house to rent out or a small apartment building.

Our efficient project management ensured these updates were completed quickly and within budget.

However, a few things I would suggest to give you a better perspective is: 1) Talk to property management companies in the area to see if they operate in the area and/or have comments on tenants in the area, 2) Speak to a few banks to understand how they would lend on this property, 3) Scan Zillow/craigslist and other listing sites to understand the rental market for listings...

My mother-in-law is managing the state and doing some projects to get the house in better shape before going to the market.My husband and I would like to purchase the home as an investment property (rental); my mother-in-law stated that she would "discount" her part of the purchase, which means we would only pay 66% of the original price.I am trying to think of alternatives to borrowing the money.

Wish management would be paid better.

My plan for property is to rent after rehab which the same realtor has a property management company we’ve discussed using. 

Hey @Dennis Gallof - I'm a broker, investor, and property manager in NYC to landlords like yourself.You're right, its very common for basements/cellars to be rented out (legally or not).

Our efficient project management ensured the updates were completed swiftly and within budget.