Currently appraised at 325 to 335k due to latest comps this year. 39k in Rehab for two new bathrooms/Deck/Floors/Paint/New Water Heater/Open Concept wall removal etcLooking to rent out for 1550/month. (~1101 mortgage/124 property management/191 taxes/2mil insurance coverage).

Typically buying at a substantial discount and doing a high-end rehab to push rents well above the numbers you quoted. 2.

We tore all the plaster walls out for the complete rewire. 1600 square feet was completely rehabbed along with a full basement that had a full bathroom.

There is no water, kitchen, or bathroom in the garage room.

There's also SimpliSafe security systems, which I believe you can get a discount on through biggerpockets.

Here are the numbers: My current P&I payment is $1,707, which is a total loan amount of $386k at a 3.375% rate.My offerings are: Option 1 - 2.999% - 30 Year Fixed - Cash Out - About $8-9K back2.999% Interest Rate with 2.87 discount points (discount points are a pre-paid buy down on the interest rate over the life of your loan)Loan Amount $412K (max cash, based off of $515K property value.

If that's the case, you're really just looking for a discount and $1MM if another property that is very similar sold for less than $1MM doesn't seem to be one. 

@James HamlingI told my friend he should set the rent 10-20% above market with a 10-20% discount for paying before the due date.

Doing small things right now and eventually want to do some value add projects to add forced appreciation (e.g. update the bathroom, add a deck) Lessons learned?

New kitchen and bathroom. 3/1. $1375.