I'm thinking of putting tile everywhere downstairs, and in bathrooms and kitchens upstairs.

It's a corner unit with a very large backyard compared to its neightbors.My idea was to buy the house, update the kitchen as it's a bit dated and then rent it out within a couple of months.

You get 45 cents on a dollar.As for renovation, I doubt the cost of materials and labor are lower in Alaska than in CA. 4 brm, 2 bath, two kitchen will run over $50K here.

B+ area, built in 2006, parking, separate utilities, has good parking spots, real hardwood floors, wash/dryer exposed in kitchen, 2br/1.5ba units, good rental history, rent is $3200 gross, but ill live in 1 unit so the gross is $2400.$270K purchase priceFHA loan3.5% down ($9,450)P&I-$1321/mo ($260K financed)INS- $100/moTAXES- $137/mo (taxes are currently $274/mo b/c its in the investment class)PMI-$187/mo (would like to own for a year and try to refinance with another bank to get a conventianal if I can get a high enough appraisal to drop PMI or lessened)TOTAL PMT-$1745/moLIVING FOR FREE!!!

They're happy with it apparently but the kitchen floors and walls are horrible.

I want to build a closet (~8x3) and add a door to an existing open 10x20 symmetrical extra living room area off the mud room & kitchen.

If you go in and see that not only does it need 2 new kitchens, the foundation is shot, all the bathrooms are destroyed, the roof needs to be done...

Greetings BiggerPockets Community,My name is Trevor Harris and I am a recent college grad interested in becoming a part time real estate investor (for now).

Kitchen cabinets in particular are filthy. 

DO NOT BE AFRAID to outline high costs for rehabbing to current code -- complete new wiring, plumbing, 100% new drywall, ceilings and floors, windows and doors, kitchens and baths --- porches, landscape-- are not cheap.