You also have some cosmetic stuff after.

I’m purchasing a duplex in Cleveland, originally planned to brrrr or buy and hold it since it generates $1300/mo and I’m getting it for 36k with ARV up to $85k-$90k light rehab (cosmetics) shouldn’t cost more than 10-15k which has me thinking of fix and flipping (or wholetail) The only problem is there’s a tenant renting out one of the units.

My daughter needs a complicated heart surgery and MUSC is the place.

I am going to be doing a complete cosmetic rehab on it. 

Have you seen a bump in bookings  with cosmetic exterior upgrades like updated siding, decorative lumber to front porch rails/bannisters, nice front door etc that would allow you to feature that photo in your listing? 

Most of my investors deal with Rentwell and have great experiences with them, they have contractor that can do full cosmetic rehabs, so if you bought a grandma houses but the mechanicals are in good shape they could do the rehab for you.

The second floor needs windows and cosmetics and the first floor was gutted and we will start from scratch.

The second floor needs windows and cosmetics and the first floor was gutted and we will start from scratch.

The rental unit was vacant when I moved in and I am currently receiving about $300 more in rent that was on the appraisals projection… I have also done some minor- non cosmetic updates).In terms of my financial position I do have enough liquidity, credit, and income to qualify for a mortgage.My grandfathers property is a two family house (up and down) on an oversized lot, with a two car detached garage, and a huge driveway.My family will be utilizing a gift of equity to me (and potentially my brother) for the down payment when we buy the property.The price my grandfather is looking to net Is between $450k and $500k.Based on a CMA report I had done, the estimate on the house is between $580-600k.My Aunt is putting an extension on her house to accommodate my grandfather living with her and her family.

Look for something that doesn’t require major work (think roof, hvac, rewiring electrical, moving plumbing) as those things can eat up a budget quickly and focus on cosmetics like exterior and interior paint, updating hardware and fixtures, replacing appliances, and focusing on a high value area like a master suite and/or kitchen.