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

You can also look at how it changes the value of the property overall (if, at the market CAP rates, it's effect on increasing NOI results in a value increase of $10K, then it's worth it in that regard as well).Tough thing is, you'll probably be doing other renovations as well to increase rents, and/or existing rents may be low already when you purchase it; so you'll have to try to tease out the effects on rents from just the utilities transfer (and they will be lower than with the utilities included).

Most lenders will require you own the property for 12 months before they will allow you to use the new value to pull out cash, before that most will only recognize your purchase price even if you have done major renovations.

I was able to buy, renovate and increase my total gross rents around $230/month.

Hoping to get into buying cheap houses and renovating/flipping them for profit.

However, this is the smallest 3b2b on the street.Assuming I do purchase the home for $50,000, add around $25,000 in renovations and sell for $140k I'd stand to make $65,000 (best laid plans, right...)Here is my background:  I am a single mom, I have a full time job and I do not own my own home. 

Don't kid yourself - this is a cash flow play you're after.I recently purchased a 4-plex in May in the FSU area (a block north of Tenn St.) and had to completely renovate one of the units, so I figured it may be helpful if I drop some numbers on you as they should be somewhat relevant.....Purchase Price - $180k1978 build.  4 units - all 2/2sSeller paid 2% of closing costs.New roof in '13, new windows throughout building, new staircase, 3 of the 4 units had been completely renovated.  

., I've been thinking that if I can survive the renovations and get the properties rented (I'd like to hang onto the properties if I can, selling is less desirable back up option) then I would try to secure a HLOC to consolidate my debt, but I've been wondering about the debt to income being a problem.

There's a legal triplex I'm looking at that would cash flow with my financing, market rents and expenses, BUT it's priced at or above market with at least $25K in renovations conservatively.

We are doing an FHA 203k home renovation loan, and planning to do a complete rehab of it.