Wallpaper removal, carpet removal, refinish original hardwoods, etcBedrooms - new drywall, paint, trim, carpetBathroom - gutted and added new everything with vinyl plank floors, shower niche, recessed lights, exhaust fanKitchen - refinished original cabinetry, added new cabinetry, granite countertops, subway tile backsplash, open shelving What was the outcome?

Gut tells me this sounds a little sketchy....

Going with your gut isn't a great move when you can use bigger pockets calculators and other tools. 

First, congratulations on taking such a bold first step: Door-knocking pre-foreclosures takes guts and persistence!

A little about my first property: Area: West Baltimore/ Midtown Edmondson Purchase price: 134KRehab Cost: 0 -The property was a full gut renovation (someone else’s flip)Mortgage/Tax: $1,050Rent: $1,425Now that I’ve done tons more research on BRRRR, I’m not too proud of my first property, especially since I used a lot of my own cash to purchase it.

We think if we completely gutted each unit and then expanded to make them both 2 bed/2bath, we could generate gross rent of $2,000/month.

It has a roof it's in great condition but I have to gut it out and lay a foundation.

A along time agent was looking to dump part of his portfolio, and a few of the units in this complex were complete gut jobs.

It was a full gut, everything brand new, but it was needed.

My gut says it would be expensive, and possibly not worth it in the end, but thought I’d ask the forum.