Top to bottom renovation What was the outcome?

I also am usually renovating, so the wood will be repainted anyway. * if you’re in MA or CA, the rules change... much more strict.

The plan is to get a home equity loan to cover the renovations (possibly convert to a duplex). 

You can substitute experience for market knowledge by spouting off a bunch of accurate data about absorption rates, comparable sales in a neighborhood, finish levels of renovations, etc. 

Local market rents suggest that units this big with these amenities should go for minimum $700/mo, max $850 if higher-end renovations done (too expensive for most potential tenants in this neighborhood).

We have the down payment and access to cash for the renovation - but getting a conventional mortgage would be tricky because we had to walk away from a mortgage in 2008 (surprise, surprise) and it took the bank until 2013 to finalize the paperwork - hence, our waiting period is until 2020.But the deal is NOW! 

I also assume taxes will double if I'm doing any renovations, and factor that into my analysis.My partners, (also from Ontario), and I have a 4-unit closing on Friday so I'm driving out for a week to add some major value to the interior.

We are trying to make a good sized draw to find a renovation on a family property to move into.

I seen a duplex REO that just came on the market I been approved for an renovation loan I will be using I’m house hacking it but I would be paying less on my mortgage then I’m paying rent now after it’s renovated the house should be worth in the low 500k and they asking in the 300’s Do you think it’s worth it?

I'm somewhat familiar with the Reading market and while it may cashflow great on paper, no matter how much you renovate it, its going to be difficult to build a significant amount of equity in Reading properties unless you're literally picking them up for pennies on the dollar as the values at least within the city are so low.