If you go with a Flat sheen on the walls I find that it makes for better touch ups later. 

@Rachel Trimble  it is expensive to move kitchens around but a living room is just a tv wall mount.  

(They were into goth, black hair and nails, tatts, etc, but GREAT TENANTS... picture of them with grandma on the wall :)   I had to consider the month or more rents lost if they left.. they leave end of month, i can't do a turnaround in less than a week or two, so by the time i advertise and get a new occupant, 30 unpaid days blew by. 

I do have the risk that the rehab will go high but knowing what I know and what I saw I'm optimistic that I can keep it at $15,000.Hopefully I'll be writing another success story for the actual flip in the near future. you should do well on this one if there are no unforeseen issues, I buy regularly at Sheriff  Sales, the reason you had no competition, is the spread was not wide enough for most investors sight unseen, if I cant get in, I have to get it for 50% of ARV ore more depending on that ARV, based on your numbers, you dont have a lot of room for error, especially using hard money, 200k-15k= 185k- Commission and title 113k=172k- holding and finance costs 6k=166K- 124k=44k now if you get in the basement and the furnace is bad, or gone, and you have a bulging basement wall, and have to tear out landscaping or driveway to fix it,  your almost sunk.

I cracked myself up a little.Now ...So...I have a home built in the late 1800.Original floors walls etc. etc.

Originally 2+1, but the 2 rooms were so small the wall was knocked down to make 1 big bedroom.

The legal aspects are very involved, and only an attorney specializing and experienced in securities laws should be retained.

I added a shower to an existing tub and now the problem is the walls.

In turn, we each have a substantial amount of new cash that we can use to invest (individually, as the SDI rules wouldn't allow us to mingle our own IRA funds), and any profits that we make can be retained outside of our IRA, as we're using the other person's IRA money (as a loan) and not our own.At some agreed-upon point in the future, we each repay the other's IRA with the initial principal...

Should be public information records, but I would retain an attorney to do so for possible legal issues.Also see if their local and or State returns might be availble under public records.