We had also freshly painted the inside and outside.

She also renovated the entire kitchen and painted the whole place on her dime.

Craftman style, decent neighborhood, needed significant work and great houses around it.Upon further inspection, it was partially worked on inside, some new sheetrock and paint, but it didnt look like anyone had been there in a bit.Knocked on the neighbor's door and after some chatting, got the owner's number.Long story short: meeting the owner this week for a formal tour, talk numbers, take my mentor and then maybe my first wholesale deal!

Can any one give me any tips on owning rentals in a not a totally ghetto area, but i guess i could say a little run down.

Came across this ad while looking for rent comps: http://baltimore.craigslist.org/apa/2588121845.htmlRenting a place to the first starnger, then evicting, not wanting to clean/fix/paint/replace carpet; Then renting the dump and then evicting, not fixing/cleaning/paintin; Renting as-is, evicting......

If I don't have a contractor or someone with experience with the rehab, I try to give a best guess based on the following formula.Square footage of the house * Rehab Factor (e.g. 5-12 depending on the severity of the rehab).ex. 2000 square foot house that just needs cosmetic (paint, carpet/flooring etc) would be a 5 rehab factor so I would estimate2000 * 5 = $10Ksame house with repair work and updating2000 * 12 = $24K

Converting some of the downstairs into a master bedroom with walk in closet and ensuite, 50 % new roof, new floors throughout, paint, finishing a sunroom, refinished kitchen and baths.ARV: $189,000 Comps: #1 - 3/2, Same style house with 350 extra sq ft (mine will be similar with finished sunroom) no big garage.

Thanks for the tips.

Nope. 50% is the long term average... accounts for things like having to paint the exterior every now and again, the occasional septic issue, replacing a room every few decades... those sorts of things are big expenses and don't show up in year to year reports.

.- New sub floors in Kitchens where needed , and then Linoleum floors in kitchen- Total Cleanout 3-4 Roll Off Dumpsters for left behind junk- Linoleum in pantry 4x8- 2 Bathrooms - Needs new linoleum and 1 needs Sub floor- Bathroom walls - rip off old plastic tile in one and make drywall and paint - Ba 2 Needs Rip off wall paper and skim and paint2 - Living room Kitchen & (2) Dining Room and 3 (6)Bed rooms Refinish Hardwood floors on ea floor so x22- Living rooms, kitchen and dining rooms, remove wall paper and skim coat, and paint all walls and ceilings2 - Living Rooms and windows remove all trim and replace with new and paint ( lead Paint )2 - Repair Bathroom Ceilings and Pantry Ceilings and then paint6 Bedrooms Fix Drywall, paint walls and ceilings2 Bathrooms install bathtub wall panels2 - Install Kitchen Cabinets , and countertops, and Sink in both pantrys2- Install Dishwashers including pipe, drains and elec in two pantries2 - Over stove - More cabinets in Kitchen @ 6 ft top and bottom with countertops2 Install washer and dryer hookups after bringing power to locationApprox 150-200 ft of Asbestos removal in basementalso what is the lead time to do all this..?