I usually estimate based on the cost of materials and do the work myself, for example:used or new toilet: $20-$90plain white sink at lowes (order online): $40used or new window: $20-150used or new door: $20-150bathroom mirror: $10-20sheet of drywall: $10bucket of mud: $12sheet of 1/2" plywood: $20laminate or tile flooring: 1-2/sq.ft.5 gal of paint, primer or polyurethane: $50-100used or new cabinets: $0-600laminate countertop: $50-200used fridge and stove: $100-260new water heater: $220If you don't know how to make certain repairs there are lots of youtube videos that you can learn from.

And the tenants "seeming to be nice" doesn't mean squat.

Short sale listing price doesn't mean squat unless it is pre-approved for all parties involved with the loan.The lender or lenders and any junior lien holders might want deficiency against the seller or sellers,to put cash in the deal,to offer up another property that has been cross collateralized etc.You are only at 41,667 a door for 800 a month rent.I highly doubt this property is performing at 90% with those prices.If it is a lender will not be taking a huge hit like that.There has to be much more to this story.This is why I say "pre-approved" is critical.The broker/agent could have listed low to suck buyers in and put in offers and then the bank counters and they get the investors up on price.

If it forecloses the HELOC gets squat as if your lucky there will be enough to pay off the first if that.If they work with you they get a payoff to release the lien interest as a short sale.The key will be what the first mortgage will or will not do and what they will allow junior lien holders to get as a payoff in a short sale.Typically they offer junior lien holders 1,000 and then the juniors want 30 cents on the dollar.It is a negotiating process of back and forth.If you are in a fast foreclosure state a first isn't going to give juniors a large chunk of the purchase price when they can foreclose and get almost the full balance owed to them.Ideal situation would be for HELOC to accpet 10 to 20 cents on the dollar and write the rest off.Before signing anything make sure the HELOC is not just releasing the lien interest for 20k but forgiving the rest of the debt in writing as well.Do not believe anything that is not in writing.I have seen banks lie through their teeth before saying they would not pursue a seller after a short sale for a deficiency and the letter was to come from another department higher up.They closed and the letter never came.

Get and keep good tenants,Price toilet parts out, you'll replace those too.Get the tenants a gas grill.

While they may see all kinds of junk saying that they see some "lender" doing something certainly isn't an opinion to be relied upon, most don't know squat ecept how to close a loan.Let's start another thread on that

Some of the stuff, like swapping out toilets and installing grab bars is easy.

I had a tenant who was complaining about the toilet seat falling too fast, the door having the wrong pushing force to close, etc.

He can probably do much of the finish electrical, finish plumbing, basic HVAC, basic carpentry, etc, for about a quarter the price of the specialists.For example, a plumber will probably charge $60-70 to install a toilet...a good handyman will do it for $20-25.That said, make sure the specialists are licensed, and make sure you keep your unlicensed handyman away from anything that requires a specialty permit.

Thanks everyone...one thing to add if you don't mind, do you all think that tile upstairs would better mitigate any water issues from the usual suspects, toilet leak, sink, I have seen it all....I mean as opposed to carpet or wood upstairs.