Also I'm pretty handy so I can do alot of the remodel.

Besides working on my investments I expect to be expanding my business practice and will be starting a major remodel of my home.

Hi, First, if you do not own your own home, I'd use that money and get an FHA 203K Remodel loan on a home for yourself. 3.5% down payment would enable you to buy a $100,000 property and still pay for closing costs and take your family out to dinner and have a little left for emergencies.

That house needed a total remodel of the kitchen, bath, paint throughout, railings, flooring, windows, trim, etc., Unfortunately, I couldn't be of much help because I have young children.

I have a home remodeling company if I can be of any assistance helping you with repair costs.

For example, if I have a 2 bedroom, 1 bath home and remodel it to a 3 bedroom, 2 bath home, that expense goes into my "Tax Basis" for depreciation but not into the 50% category.

Since I generally do full remodels, by the time we sell, I generally know exactly what is and isn't working (and have generally fixed anything that is in the "isn't" category)...Also, for my full remodels, I always give the buyer my card at closing and tell them to give me a call if anything that should be working isn't...I don't want dissatisfied customers!

With a larger property comes the possibility of short term renters who are remodeling their home, just wanting a few months.

Originally posted by Joel Owens: In these 1 bedroom situations we look at "highest and best use".Even though it was built as one bedroom the highest and best use might be to tear down a wall between the units and convert a majority of the 1 beds to 2 bedroomsThe problem with that is unless you have the cash to pay for a remodel on that scale and can take the huge vacancy hit(which in turn takes a hit on your cash flow)because you'll have to keep the units vacant for the remodel it's not feasible to warrant that.

How do remodeled fixed houses sell with nice finishes?