Overtime I have made minor upgrades, New Appliances, Shed, Painted the entire house, New Toilets, Carpeting, etc.

But factor in the light rehab of carpet, paint, appliances and then calculate the holding costs, $400/month HOA, and real estate sales commissions, and that deal falls well under a $20K profit.

I don't see any possible way you can rehab a house for that unless you're just doing basic paint and carpet. 

@A Perez Not sure about your market but in my market and many others inventory has remained just as tight as it was before this mess. I

Mine is 400 sq feet (internal carpet area)@Hunter Vigneault @Brian Larson yes good idea.. thank you!

It's been a battle for sure and I want to pass along the most impactful jabs that have worked for me:- Sanding down wood floors, removing carpet and pad in carpeted rooms- Spraying a good coat of Kilz on the walls, ceiling and trim,- Have HVAC ductwork cleaned- Run Ozone machine for max (2 days), then hit it again in a few days. 

He wants $95000 but through conversation he said he would go $85,000 and he will have new carpet in it next week.

You can redo carpets and paint a 4 bedroom for cheaper than it would cost to build out a 4th bedroom in a "turnkey quality" 3 bedroom. 

We dealt with a death in one unit (hazmat is messy and expensive), a house fire, a criminal POA management team on a 4-plex development (legal fees are expensive), a swat team raid leading to a tenant getting thrown in jail for mail fraud, evictions and all the usual landlord issues.

And also its less messy for your lender.