Are you pairing it with a renovation loan?

We bought it for $1.125MM, spent $42k in renovation so far, and brought rents up 36%.

I’m the property manager, do my own taxes and also renovated it when I first bought it.

If we were in fact to purchase a property using a Hard Money Lender to purchase one of our buy and holds (bc a lot of them are not retail but below market and we would want renovate it and then place tenants),  could we re-fi right out into a mortgage and avoid putting down a down payment... just curious?

I came back this weekend to finish the renovation at this time potential buyers came to me to make an offer.

I've done tons of renovations for pennies on the dollar but usually I just take the money I may do some sweat equity but now that I turn 30 I'm really motivated to build up a rental portfolio and stop turn all my cash in the trash.

The renovation will be complete in 1 week.

I flipped the house before renovating it and made $30,000+.

On the other hand you could also say that in doing all of your calculations, you realized that you're going to have to spend more in renovations than you previously thought, in which case you'd now like to offer 165K (without conditions)I wish you the best of luck with your purchase.

The new construction or renovated SFRs in the neighborhood are selling for $143-$167/sf.