I paid cash from the LOC then painted, reworked kitchens and baths, turned the upstairs unit from 1 bedroom to 2 by adding a closet and closing off 1/2 a very large family room.

I've already learned a lot via posts, the getting started ebook, and webinars and hoping to learn more to figure out how to make RE work locally for me in this very expensive area since I'm hoping to stick to local investments.Looking forward to meeting you all and learning/sharing.

rework the layout and make them all 3 or 4 bedrooms, you'll drastically increase rents.

And frankly I was enjoying the RE work more... 

They have no interest no desire to be involved in my RE work but are only looking for cash return on their investments.

If the repair cost is less or ARV is more, or if you're willing to take less on your assignment fee - you can tweak the offer price.That's just how I would run the numbers - ...Wow, I think most people work the "70% formula" a bit differently - because the idea is to have a reasonable profit margin, and not a paltry margin.So let's re-work those numbers to actually give the investor a chance to get the "15% expenses and 15% profit".$70K ARV70% of ARV = $49K70% ARV minus repairs = $49K - $50K = OUCH, a negative number and probably a money loser.You would have to be given this property and at least $1000 for this to fit the "70% formula".

I think if I were in your shoes I would find out how much room there was to go up on current rent as well as building in the split costs of those utility averages then rework my numbers.

(Doesn't sound like it is) I'd rework the numbers and do more due diligence.

I think you need to rework the math on this.

The floorplan of this home had to be completely reworked to bring it back to it's 1920's glory.