(After remodeling the entire place, new parking lot, and 50% LTV mortgage).2018 came around and my family and I decide that we want to move out of the Bay Area and sell my business so that we can start a new venture elsewhere.

I was a union carpenter and enjoy the remodeling process, so I do like fixing places up, but this one is appealing because it seems like I can get it with the almost guaruntee of excellent cash flow in like, 5 years, with zero work and then I have time to do a more involved reno with my other cash (plus my zero interest business card that's still got about a year on it).I'm trying to look at it from a 10 years from now perspective though.

@Johann JellsIt’s ALWAYS LEGAL TO REMOVE TENANTS TO REMODEL THE UNITS FOR SAFETY & SECURITY REASONS!

I ripped all of that out and replaced it with nice 24" square tile, Kraftmaid cabinets, Granite countertops, new carpet in bedrooms, remodeled the bathrooms, repainted everything, upgraded baseboards, new appliances and fixtures, etc. 

My remodeling company is more then capable of quickly and professionally handling this project.

I've completed the remodel of garage apartment to a really nice quality, maybe slight too nice for the neighborhood.

Needless to say, it's a very attractive strategy with high upside but... also certainly higher risk for me personally given I've only done medium sized remodels, definitely not rehab of distressed properties, nor buying higher risk properties.In the process of easing myself into this strategy, I've done a lot of reading and research in the last few months including as many books as I could get my hands on by David Greene, Bruce Turner and others, as well as perusing forums/podcasts on BP and other sites. 

Just finished remodeling my first investment property for a buy and hold yesterday.

Luke Kotulski with Get inland remodeling.

Here is a deal I'm currently looking at: Duplex listed at $500k ( yes, Fairfield county is nuts ) its in Fairfield CT in a highly Desirable area within walking distance to the beach.ARV- $600k PER SIDE- very good conditionConstruction cost: $300K ( total remodel plus adding an additional bathroom to each unit )so all in for 800k- would still make a pretty penny.