If you can't walk through and estimate repair/upgrade costs realistically, take along someone who can.

I would not be surprised if after closing costs and upgrades to the current property, you would be out over $22,000 or $23,000.I would try to beat him up on the price.

The house that I'm living in could use about $10-15k of cosmetic upgrades (bathrooms being the main expense) so I plan on saving for that before saving for my next downpayment.

With your background you should have lots of folks wanting to network with you to remodel new purchases or upgrade existing rentals.

The house came with some nice features:- Furnace was a newer high-efficiency (about 7 years old)- Stove and refrigerator included- Master bedroom had skylight and vaulted ceiling- A significant portion of the plumbing in the house had already been replaced/upgraded- Vinyl windows throughout- 2.5 car garage with openerWork that I did to rehab it:- Painted the living room, hallway, second bedroom, and kitchen- Replaced the kitchen floor with ceramic tile- Replaced the basement windows with glass block- Re-sided the garage- Put a new door on the garageAnd some other cosmetic fixes.The tenants just moved in this past weekend and they love the house so far.

We are also doing the numbers on how much cost is added with a basement, and may perhaps make this an optional upgrade for pre-solds.

Like you I use it a ton and have never upgraded my first gen version.

I just upgraded my QB program and Im considering using their IPN (Intuit Payment Network) to receive rent payments.

perhaps future upgrades will include a landlord portal.

Your curry cooking friends would probably love the upgrade.