A couple hundred dollars in painting, lighting, and flooring goes a long way.

Purchase price: $122,000 Cash invested: $24,000 Buy and hold - purchased via a wholesaler - brought current owner loan current - bought subject to - clean up, flooring, paint, then rented out, may Refi (BRRRR) in a few months to pull my cash back out.

The plan is to take the floor plan and split it in 2.

When I purchased my first three family rental, I rented out the other 2 floors and the 2nd bedroom in the unit I was living in.

Essentially leaving the second floor with just 2 beds, 1 bath. 

On the flip side, in most mobile homes the interior walls are not load bearing but instead decorative, and you may have greater latitude to move those around to meet modern floor plans (but consult HUD before you do this).

So far they removed all the old carpet and they put in a new drywall ceiling and wall in the master bedroom on the top floor.

I also removed vehicles, cleaned yard, Removed old ceramic flooring and drywall to the studs.

I was told by a couple other experienced investors in my area that the avg cost to rehab a basement is around 80k, and 40k for the main floor.

By Completely remodeling bathrooms and kitchen flooring and other up dates.