Purchase price: $220,000 Cash invested: $40,000 Sale price: $335,000 Full cosmetic remodel- Flooring, paint, electrical fixtures, tile, kitchen cabinets, countertops, appliances, vanities and landscaping.

The remodel was supposed to last 1-2 weeks and actually lasted closer to a month with $1500 over budget because other things came up.Now comes the fun part, another unit in the same property (4/2) just became vacant and needs a little more severe rehab (windows/paint/tare down of a wall or two /drywall covering of all these random doors the unit has/kitchen cabinet work).

The quote that I have is as follows:- Provide and install average grade kitchen base cabinets: $2225- Provide and install average grade kitchen wall cabinets: $850- Provide and install laminate countertop, post grade 25" deep, 4" splash: $500Now I personally think the cabinets look fine and that cleaning would suffice.

You need to go through and make a list and then do a repair/maintenance schedule with estimates.Example:  Take this and add to your expense stream.unit 8 bathroom year 3  $2,000Unit 1 sidewalk step repairs year 1  $500Unit 6 Kitchen sink and cabinets year 5 $3,000All units roof- year ??

We did a light rehab on the kitchen: painted cabinets, new hardware, new backsplash, new countertop.

We did a light rehab on the kitchen: painted cabinets, new hardware, new backsplash, new countertop.

TLDR: For new rental cabinets - go with the cheap option that is either stained or painted.

A flipper would remove walls make it an open floor plan new cabinets granite, refinish the floors, paint, etc. etc, but a buy and hold would just do a carpet clean and put a tenant in there.

So that's $6,500 over asking plus $6,500 in commission savings = $13K in additional profit over asking price.Breakdown of which I did 70% of the work myself...Purchased home for $112,000 (Cash) 2/24/2017Closing Costs: $1,461.06Rehab Expenses: $58,540.78Holding Costs: $278.17 (Utilities)Offer Accepted: $230,500 (Asked $224K) 5/8/2017Profit: $52,637.22Total Rehab time: 69 daysDays on market: 4 daysHome Facts: 1576 sq.ft. 3/2/2, new roof, foundation (21 piers), masonry work, new HVAC, New Appliances, New cabinets (soft close), totally gutted bathrooms, new floors throughout, new landscaping and sod, painted brick and all interior and 2 non-load-bearing walls removed in kitchen.Home Details

On the top, it will be open, and on the bottom, it will be closed with a cabinet door.HALLWAY:Remove vent fan and patch the holeMake hallway light switch one instead of twoReplace ceiling drywall, has moldLIVINGROOM:Ceiling fan electrical added to the center of the roomRemove four recessed lightsFRONT/BACK DOORS:Reframe doors with new woodDECK:Fix front deckBuild new back deckNEW OUTDOOR LAUNDRY ROOM:Add plumbing and electrical for outdoor plumbingReframe and drywall the roomPAINT:Exterior of home