New laminate floors and carpet, and new SS appliances and granite in the kitchens and baths.

.- Kitchen upgrade and vinyl flooring replacement (replacing countertops and backsplash with plumbing and sink/faucet with new appliances, we will repaint the cabinets ourselves)- Bathroom remodeling to include demolition, installation, plumbing repair or modification, and tile flooring (~42sqft per bathroom)- Convert two bedrooms into one with a walk-in-closet- For the flooring: Remove all carpet and refinish hardwood floor- For the painting: patch and repair walls and ceilings and re-paint.- Verify the existing installation for heating and water heater (new heating system on 3rd floor)- Remove asbestos insulation and pipes in the basement- Verify the existing electrical installation and upgrade to support new appliances- Some windows to be changed and we may consider to change them all depending on pricing- Repair the roof if neededWe are also considering doing most of the work on the unit we would live in (other than plumbing and electricity) but we really need to find a GC that can work within our budget!

If you are new to investing, try to find a property that has mostly cosmetic issues (kitchen rehab, updating bathrooms, paint, baseboards, carpet, other flooring, light fixtures, etc..)

Home needs paint, carpet, and kitchen/bath updated.

For example  carpet, drywall, windows, doors, etc.  

It could end up being done very poorly, with paint spills on the carpet.

The house is full of junk (typical FC) but other then needing 3-4k in paint and carpet it is ver sound (roof might be older but looks good for at least a few more years).So here is our situation:Bought the house for 12.5k, Rehab 4k MaxMechanicals good (other then older roof) Water heater is newer, furnace is decant vintage, actually has central air.Rents are $1,000 a monthResale price estimate list for 60k sell for 55k less closing costs.So do we put this in rental mode with a PM and cash flow it or sell it and go see if we can find 2 more in it's place.What rules and guidelines does everyone use to evaluate deals like this?  

Example I have one property I'm selling for 35k, 3/2, 1400 ft, detached garage, new furnace, new water heater, new appliances including new washer and dryer, hardwood floors, nice yard,  rents for 775.00 to 800.00, house is super clean, one room needs carpet, and painted to freshen up inside.

They have even peed on my carpet.  

Carpet and 12ft wide vinyl.