Purchase price: $159,000 Cash invested: $159,000 159k all cash deal 40-50k repair budget, high end cosmetic renovation225k-250k ARV$1800-2200 monthly rental6% COC at $45k renovationIRR 21% on a 10-15 year horizon

As for the electrical and plumbing, a lot of it had already been replaced and upgraded, so most of the rehab was cosmetic, but we did have to add quite a few new outlets and replace some cast iron plumbing with PVC. 

The remainder of the rehab is mostly cosmetic updates since the residence has not been updated is 30 years.

The reality is most rehabs are cosmetic and few people do it right because of cost.

Some cosmetic updates and new flooring along with other odds and ends.

If you have a busy 9-5 routine but have the money to get started and don't have enough time, turnkey companies provide some of the best resources to scale your portfolio.

In my market total gut jobs are going to be $50 per foot, but a light cosmetic project can be $15 per foot.

There are also exclusions to consider under some policies when it comes to cosmetic issues (trying to get the roof to match or look as certain way). 

I dedicated my life to learning RE for 7 months and developed the confidence to actively make offers and begin building my portfolio. 5 months later I closed on my first property and had my routine down so well, I was confident enough to buy 3 more shortly after.It is all about what you put into it...just like any other venture in life.Best of luck!

Owners do have a responsibility to properly maintain their properties, which should include routine inspections, preventative maintenance, and periodic replacements.