I'll occasionally change something small like a faucet or a light fixture by request but if the flooring is in good shape it's staying.

@Aaron MazzrilloThe financials are important but:A - numbers are cheap and light; you can buy more and move em around to get the propforma to look good.B - in terms of management the numbers may or may not tell the story.Here are the questions:1.Who is in the building?

I also own a business in Residential Property Services- specifically, mold remediation, waterproofing and other light remodeling.My goal is to create a business that rehabs and flips houses and also buys houses for long term rentals.

The kitchen will have all new appliances, new hardwood floors, granite counter tops, can lights added, etc.

Seems that BP could carry some weight here with all these people coming on here on a daily basis.

No light fixture holes or visible unsealed areas from attic to rooms..

Plumbing rough in = $375 + $0 labor = $3753 new vents, 7 supply lines and 3 waste lines, shower valve.Electrical = $500 + $200 labor = $6003 plugs, shower light, vanity lights, under vanity lights, 3 recessed lights, switches, Panasonic exhaust fan.

A security light in the parking area; a clean laundry area; new mailboxes ... all speak to your interest in the tenants and, over the long-term, will pay for themselves many times over in lower churn and reduced expenses.There are plenty of others ideas, but these are the ones that come to mind right now.Good luck,Sam

I'd say that from what I've seen (both from some data mining and from pure empirical evidence), your myth vs reality points are right on.I certainly have data to support the fact that several institutional buyers (and I use that term lightly -- many are just large private equity funds that most people probably wouldn't call "institutions") are buying up to 200+ properties per month in my metro area (which is a large area, btw).We've found about 100 cash buyers who have purchased 20+ properties in our metro area in the past 12 months, and I'm guessing (I don't have the data in front of me) about 10% of them have purchased at least 100 properties in the past 12 months.To you second point, yes, many of them are new buyers in the area, and the larger ones are brand new to the area in the past 12 months.

So, I need some advice on how to cut some on this project; here is the budget...............Demo- $2800Roof- $4800 (fix roof on addition and raise roof in kitchen)Gutters- $1200 (replace gutters)Siding- $3500 (replace with new siding)Exterior Doors- $1800 (replace 3 doors)Shutters- $600 (add to front windows)Exterior paint- $1500 (paint cinder block, trim, porch, columns, shed, etc)Landscaping- $700Windows- $3000 (replace all windows{14} except 3)Walls- $2500 (open up 2 walls from living room, dining room and kitchen)Drywall- $4500 (replace all ceilings, repair and patch as needed)Rough Electrical- $4800 (bring up to code, install new outlets, GFCI and ARC fault breakers, move electrical in basement to free up ceiling space)Finish Electrical- $1600 (replace all receptables, outlet covers, switches, switch covers, light fixtures, and ceiling fans)Rough Plumbing- $3500 (replace water heater, relocate/replace plumbing to free up basement ceiling space)Finish Plumbing- $700HVAC Rough- $4500 (Replace oil heating furnace and add AC unit)HVAC Finish- $400 (replace covers)Ductwork- $2500 (add new ductwork, registers, and grills)Kitchen- $10,000 (add bar style pennisula with cabinets, replace all cabinets, add grade A granite, create pantry, replace flooring, glass backsplash, new appliances)Bathroom #1- $3500 (bathroom #1 remodel)Bathroom #2- $4500 (basement bathroom creation with injector pump)Interior Paint- $2200Interior Doors- $600 (replace all with 6 panel)Baseboards- $3500 (replace all baseboards)Flooring- $4500 (replace with new hardwood)Carpet- $600 (in basement family room and bedroom)Finish Basement- $7500 (framing, insulation, drywall, trim, etc.)Leveling Basement Flooring- $5300 (tear up concrete and relevel)This is an older house with older doors, molding, finishes, etc.; nothing really has been updated.