Normally, I use granite, but the cost doesn't justify the project, so looking for something better than the "dated" Formica garbage.

We use that number as a bargaining chip when speaking with the own to justify why we need a minimum of a 2 year lease.

Such as, you have to justify a rent increase by showing yur expenses.

You can use it for one month, see how many deals come up, then see if the cost is justified.

If you are going to finance your down payment, make sure there is enough equity in the property to justify what you are doing!

My suggestions:1) Be ready to demonstrate that the as-is $1.75M purchase price is a significantly below market acquisition price2) Try to get the Seller to provide all/partial Seller financing 3) Be ready to demonstrate that there are relevant comps nearby to justify your projections4) Have an absolutely airtight scope of work and detailed cost estimate with construction milestones5) If you are convinced of the lucrative nature of this deal and your ability to make it happen, consider raising additional capital from friends/family or other sources to increase your equity contribution to the project6) The lender's will want reward commensurate with their risk: expect double-digit interest rate and a personal guaranty.

You won't see the impact of these rules til you get stuck having to say yes to somebody you have that gut feel about or you have problem tenant and you are having more trouble getting rid of them than you would have before,  or worse if you say No to somebody and they file a fair housing complaint justified or not.Yes,   being inspected every 5-10 years is a joke.  

The situation is too liquid to justify the risk. 

While it’s nice to control every aspect of the house, saving $50 bucks every now and then doesn’t justify the extra work or cost if it isn’t already setup in the property) - I’ve been exploring either noise aware or minut but have not pulled the trigger on either one.

Condos and apartment complexes aren’t built to be treated like hotels, and very intentionally offer hotel-like amenities to guests to justify the rents.