A contractor who left before finishing the completion list, lied on major electrical work that wasn't done correctly or up to code, water leaks everywhere.. and just an expensive list of repairs.

If you are looking for the city, I’ve seen some properties with finished basements that can be used as studios.

@David Barnett we did consider a more extensive rehab, including new kitchen, upstairs bathroom, and even finishing off the basement.

I think that all things in real estate should be viewed from the finish and working back from there. $4000 is extremely low!

An investor I follow had finished a property renovation and placed tenants - then the sewer lines backed up while they were doing laundry.

Once finished, it reappraised +$95k which unlocked an $85k HELOC to fund the next project!

thank you @Joe Splitrock I just finished rental property investing audio book!

I'm still at about 60 days from start(service of notice) to finish(booting their a$$e$ out the door) of an eviction, though more difficult cases can run into 70-75 days.

So, you are left with SFH and they are typically 2-3x the price of a decent 2b/ba condo, so it would make the 1% rule / cash flow pretty difficult to attain IMO.

Make sure you get your diploma, it shows you can finish what you start.