Price- 100,000Down payment-20,000Closing costs- 3kRent- 1200Property management- 99Maintenance/vacancy- 150Taxes- 166Insurance- 33Principal and interest- 360Monthly cashflow- 392Annual cashflow- 4,704ROI- 20.45%Rehab will consist of the following: refinished hardwoods, new bathroom shower tile with custom niche, can lights in living room, maple white shaker cabinets with soft close drawers and doors, granite counters, waterproof vinyl in the kitxhen floor, tile backsplash, new furnace amd AC unit. 

New kitchen cabinets, minor remodel of a bathroom and possible new flooring.

You'll find neither tenant nor management pay much attention until a problem arises, so owner monitoring and maintaining is important -- exterior trim, deck stain, crawl space vents, drainage issues, we look under all sink cabinets for water issues as most don't until it has done damage, etc. 

They did everything... paint, carpet, framing, drywall, cabinets....everything.My 16 yearold even dressed up and was at both our Open Houses and walked and talked the business..

Write down the dimensions of your rooms, cabinets, counters, walls, etc. and go price paint, carpet, padding, sheetrock, toilets, tile, mirrors, cabinets, etc. etc.

Kitchen (not replacing cabinets right now...just repaint, and new hardware/flooring)Play room for daughter (carpet/paint/recessed lighting)Office/3rd bedroom (the walls have wallpaper on them...so I sanded the seams, and spackled over them.....holy nightmare...never had so much spackling in my lifeDaughters bedroom...spackle again :banghead: Bathroom....new vanity, mirror, lighting, toilet, spray tile, white granite floor, recaulk, new fixtures....Dining room with the floor from hellSee all these little staples?

Here are a couple "BEFORE" photos showing the kitchen and one of the clean bedrooms:Now here are a few "AFTER" photos showing parts of the same kitchen and bedroom (notice the large hole kicked in the cabinet and the bullet hole in the side of the fridge):Now I don't mind normal wear-and-tear or even a little above normal wear-and-tear (like holes in the drywall) because I'm pretty handy and most of that stuff is pretty easy/inexpensive for me to fix. 

So if you have 10,000 in the kitchen for appliances, cabinets, countertops and flooring.

Use of LVP flooringUse LED lighting without bulbsUse satin or semi gloss paint for easier cleaning of wallsBlack appliances instead of stainless show less scratching over time & still look updatedLine kitchen cabinets and drawers with vinyl sheet for protectionPut bath fan on same switch as light in bathroom to ensure air circulationRemove garbage disposal if not newer due to continuous maintenance Remove exterior door knobs that have locks to avoid tenant lock outs, use deadbolt insteadRemove closet doors if they become an issue especially large bifold ones, install a curtain rod or leave exposedRe caulk areas as needed during turnoverInstall door stoppersUse curtain rods on larger windows, let tenants get drapesThermostats that cannot be reduced or increased above certain thresholdsSchedule HVAC maintenance twice a yearSchedule gutter cleaning once a yearPhysically mailing 2 tenant tip letters a year with reminders incorporating visual images  Interested in hearing more suggestions from others!

I'll try and post some pics of my recent spec. 90 days from digging footings to CO. 2300 sq ft and LOTS of tile time and cabinet time.