The home is 30% - 40% larger than most of the homes on the block and needs mostly cosmetic updates (e.g. hardwood floors, granite countertops, stainless steel, carpet, paint)

@Brian GibbonsThe Ch 13 bankruptcy is still open.Foreclosure was filed on the house, but was reversed when they were approved for a loan modification in the bankruptcy.The payoff amount on the house with BOA is $97,000The ARV is $125,000The PITI payment is $600 that's with a homestead exemption on taxes.The rental rate comparables are $1200The house needs no more than $5,000 in work,and one could may is move in ready should you choose to keep the paint color and clean the carpet.

The townhome needs new carpet and probably new paint and the yard cleaned up, all stuff I can do myself or with little help.

The contractor is happy because he doesn't have to put all his resources out (cash), and the money investor is happy because they can buy a project that needs more then they could handle themselves (a paint and carpet flip).  

I carry some sort of treat on me now whenever it's a rural location.My carpet guy has a 50 dollar snake removal fee that he has gotten me with twice already.  

Purchase Price (November, 2011): 85,000$Sales Price (September, 2015): 139,000$**Total Rehab Costs: 9300$**=========================Fresh Carpet: 2000$Appliances: 3000$Paint: 500$Countertops: 400$Staging Materials: 400$Fixtures: 500$Electrical wiring: 200$Plumbing Work: 800$Doors / garage doors: 600$Miscellaneous supplies: 500$Fence Work: 400$==============================**Total Holding Costs: 2 months - 2000$****Total Closing Fees: 12,500**==========================================Realtor Fees: 9000$Buyers cash in lieu of repairs cost: 3500$===========================================Rehab + Holding Costs + Closing Fees: $23,800Profit: 30,200$Anyway, just wanted to share that with ya'll, it was a very unfortunate circumstance, it's been a very rough couple of months, but just trying to see the light at the end of it all.We'll be closing on it this week, just thought I'd share. 

They took out carpet and stained the concrete but they didnt do very good job on staining.

yesterday, the carpet person was there and essentially told us not to bother reparing a portion of the carpet because the overwhelming small of cat marking.  

Drywall, electrical has been completed, Paint partially and no carpet has been installed.

Paint, carpet, new bathroom, kitchen updates, fixtures, etc.