You're going to be repainting, patching holes, replacing carpet etc.. no matter who lives there.

If the house needs a new roof, paint, new carpets/flooring, updated appliances or anything like that, your repair costs are probably too low.You also need to factor in closing costs.

Installed new wood floors and carpet; painted all walls, ceilings, and trim (not kitchen cabinets); finished basement to add rec room, full bathroom to include tiled shower; and bedroom.

This got us an amazing house once that needed nothing but the carpets cleaned.2) Drive by and look at the outside.  90% of the time the outside condition is indicative of the inside. 

We refinished original wood flooring downstairs and put in new carpet upstairs and in downstairs bedrooms.

We refinished original wood flooring downstairs and put in new carpet upstairs and in downstairs bedrooms.

The house needed cosmetic repair including: - Refinishing the wood floors- New paint- Finish basement with drywall, paint & carpet- Revamp the laundry room with paint & cleaning- Change a closet door- Landscaping clean up- Refinish bathtub What made you interested in investing in this type of deal?

The house needed cosmetic repair including: - Refinishing the wood floors- New paint- Finish basement with drywall, paint & carpet- Revamp the laundry room with paint & cleaning- Change a closet door- Landscaping clean up- Refinish bathtub What made you interested in investing in this type of deal?

The house needed cosmetic repair including: - Refinishing the wood floors- New paint- Finish basement with drywall, paint & carpet- Refinish bathtub What made you interested in investing in this type of deal?

To think you can buy a house and slap some paint and carpet and call it a day to get all your money out is false.