Obviously, I could spend a couple of grand and replace the carpet and pad which would get rid of the problem unless it is in the sub flooring, but I don't want to spend the money unnecessarily.  

If it's a turd, let it go.Better to be out a couple of grand (you didn't say how much earnest money you put down), learn your lesson, and move on, than own something that is going to continually be a bad investment with the possibility of losing more money.

The home is paid for but has a little over $7000 in taxes owed on the property. 3/2 with 2 extra potential rooms in a nice area.

I've read multiple posts providing recommendations to Ikea and Home Depot, but does anyone in the Grand Rapids or West Michigan area have any local recommendations?

Hi my friends, I hope that you are feeling grand!

What's up BP and all its users ken here just getting started in wholesale and would love to network with others in my area which is the grand rapids Michigan area would love to learn and work together with new investors Two heads are better than one we can work and learn together grow together make money together and eventually start doing deals on our own or a seasoned Wholesaler to help me get started working with me and showing me how things get done thanks ahead of time to all that reached out to help 

Doesn't seem like your analysis has any account of all the repairs needed to make rent ready.Sheetrock:  $25 to hang a sheet, $25 to skim/patch a sheet, plus the cost of each sheet.Paint: about $250 a room depending on how expensive you go with paint.Flooring: $2 - $8 a sqft depending what you end up doing Get all the mechanicals checked out as well.  

According to Rentometer, avg. rent in the area is $833.If I offer $8000, I'd only be in at about $23-26K (leaving a little wiggle room for extra repair costs).So with these numbers...ARV: $40kRepairs: $15-18kPrice: ~$10kAvg.

So I'm looking to learn to invest about a hundred grand a year, maybe up to a half a mil over the next 5 years.

I am integrating 3 state of the art studios as well as room for a venue/clothing shop.