Duplex - 2/1 both sidesPurchase: $97K all cash no and includes realtors work for finding the dealRehab: $20K (floors, kitchen/bathroom, paint and other cosmetics)ARV: $135K (will then refinance at $101K leaving roughly $16K in the deal)Rent: $800 each $1600 total (current tenants on month-to-month at $500 on both sides)Vacancy: 10% ($160), CAPEX: 8% ($128), Property Mgmt: 10% ($160)Mortgage: $376, Taxes: $150, Insurance: $100Lawn Care: $100, Septic: $13Cash Flow: $413, CoC: 30.9%Property is in a very stable C Class neighborhood.

I believe with a little updating with paint I could get at least $2100.

Fresh paint, very clean, comfy beds and couch.But there are no decorations. 

@Gregory Schwartz Has a painter bid on repair, caulk and paint?

It is becoming more common for people to paint floors in lower end rentals.

TLC is "Tender Love and Care" and is a term used to describe everything from a property that needs a bit of cleanup and paint, to a completely wrecked interior.

At the very least, I'd expect there to be some cost to modernize fixtures, outlets, and maybe paint touch-ups.Your interest rate is 4.5%. 

It was also a big challenge because I had only done small rehabs (paint, carpet and at most new kitchen or bathroom - not rearrange the whole house.

Would love to know if these are realistic or not.Replace most of the plumbing ($2,000)Some electrical work (assuming about $6,000)New heater ($3,500)Rental grade bath ($3,500)Rental grade kitchen ($2,500)Multiple spots of sheetrock repair, skim coat, painting ($5,000)Flooring on 1st floor ($2,500)Carpet on steps and 2nd floor ($2,000)Add W+D hookup ($1,000)Appliances included in rehab cost (rental grade - $2,000)Total - $30,000Thanks everyone for viewing -- I'm just worried about the realism of the rehab and then the operating numbers.

Physically, the look was changed completely with smooth freshly painted walls, and ceilings.