What is recommended in the way of rehabbing a fireplace?

Thinking it's only fair for the work involved (especially if managing rehab)

You want to begin the value add/rehabs on the general property before you do the rent increase.

If the purchase price is too close to the ARV as in Jasons example (Purchase for $200K plus $20K Rehab and an ARV of $225) you would not be able to get any of your cash out.  

It depends on what your policy states.Most of my clients who have had total losses(max policy payout) will get paid directly and general contract the rehab or sell as is.  

My goal was to rehab and live in the property until I could refinance – hopefully 6 months.

Any advice would be appreciated.Asking Price:             $270,000 (non-negotiable)Estimated Rehab:    $ 35,000ARV:                           $400,000Expected Profit:       $ 50,000  (after paying lender back and agent commission)

We're currently saving a good chunk of our incomes each month for a down payment on something and we also have access to a line of credit if needed for potential rehab costs.

(they make it clear you are not purchasing the Address Given )You are Purchasing a Parcel I.D # & Legal Land Description.I Simply Cannot Find the maps to Use with the Land Description..  

I am actually in the middle of a Rehab for a BRRRR strategy and I will be putting a tenant into the property soon and hope to refi out of my short term hard money.