SOW includes tearing down walls in the living/dining room to open up space, replace app the carpet with LVT, tear down the wood paneling, drywall the walls, and ceiling, full kitchen and bathroom remodel.  

If we merely paint and cleanup and maybe replace carpets for less than $5K, and resell a month later  is that a flip? 

Find subtle ways to cut down on cost ex: finishes, windows, carpet in bedrooms vs hardwood, landscaping.

Ripping all the carpet out and living on concrete for several months is a TERRIBLE idea.Cutting costs by doing demo, prep, painting, etc is great but the saving should be put toward quality work in other aspects (trim work, flooring, etc.)

Those plug-and-play, state-approved purchase and sale agreements tend to allow very little wiggle room, and could be messy if you try to countermand various paragraphs by writing addenda all over the place.

We found a great turn key single family 15 minutes from Charlotte city center, nee HVAC and updated interior (floors, paint, appliances, carpet, new bath, etc).

We found a great turn key single family 15 minutes from Charlotte city center, nee HVAC and updated interior (floors, paint, appliances, carpet, new bath, etc).Like I said, this property will cash flow and seems to be a great investment BUT here's the thing..I have a full time job (making over $60k), my wife just lost her job due to covid but is pursuing wedding/event photography full time and we don't have too much in the bank for reserves.

There was garbage all over, expired food left out, a nail polish stain in the master bedroom carpet, coloring on the walls, etc.

I saw very very little damp carpet on one corner of base plate and nothing else.

Property 2: 2 bed 1 bath condo - Closed Dec 9th 2020.Purchase price: $169K ; 25% down Repair: $7K (no repair as such but went towards upgrading the house with new granite countertop, backsplash tiles, new bathrooms, carpet, etc)Rent: $1600-$1650 (finalizing the tenant and with lease start date Feb 1st).