Currently I live in a nice neighborhood and have a house with builders grade carpet.

The house needs new carpet and tile, appliances, paint, kitchen and bathroom cabinets and counters, exterior paint job, and light landscaping.

If the property has carpet go to a grocery store and buy Borax spread into the carpet and repeat every 2 due until infestation is gone.

Would it be cheaper to just put down carpet?

Flooring: make sure that all flooring is 100% flat, and that there are no carpet nails exposed.

Hi Matt, First, try to only find sellers that have 100% equity in their home, secondary liens are...messy...trust me.2. 

@Dan Mackinsomething that needs more than just counter tops, carpet, paint etc..  

Then all new subfloor, electrical, PEX plumbing, drywall, windows, carpet and hardwood flooring, kitchen cabinets, bathroom fixtures, ect. 

Replacement reserve typically breakdown into three groups, mechanical (electrical, plumbing, hvac), structural (stairs, elevators, roofs, windows), foundation ( parking, grounds, sewers).Unit replacements such as carpets, counters, appliances, paint etc..while capital expenditures, are separate from the calculations above. 

Louis, MO Purchase price: $50,000 (short sale) - aunt was agent, so fee was waived (she was helping us out) - borrowed money from grandma for the down payment: $13,000 Material costs: $8000I forgot to itemize everything over the course of the four years, but the improvements were: -blown in insulation-tile floor in kitchen-new bathroom flooring x2-new basement carpet-new basement flooring (previous was rotted through) -new carpet in bedroom x2-hard wood flooring refinished-new refrigerator-painted entire interior of the house-installed two custom closets in bedrooms-repaired and repainted the garage-tore out dinning room drop ceiling, installed drywall ceilingAll the work was done by us, save the hardwood floors.Sale Price: $108,000 less: -$6000 in fees (man I need to get a real estate license) -$5000 in concessions Net: $43,000 $108,000-$33,000 left on the note-$13,000 to grandma-$6000 fees-$5000 concessions-$8000 material costsThe problem that I have is how to value this in terms of holding costs.