Purchase price: $160,000 Sale price: $202,000 My wife and I wanted to explore flipping a property but since we didn't have experience or a background in construction, we decided we will buy a cosmetic flip which is something that will only require simple changes to the property like replacing carpet, paint, recess lights, cabinets, bathroom tiles and a vanity.

Purchase price: $160,000 Sale price: $202,000 My wife and I wanted to explore flipping a property but since we didn't have experience or a background in construction, we decided we will buy a cosmetic flip which is something that will only require simple changes to the property like replacing carpet, paint, recess lights, cabinets, bathroom tiles and a vanity.

Replacing those if they are in bad condition is thousands.4.

It is a really nice vanity, I may just replace the second bathroom vanity with it. 

Don't fall into the thinking that those tools can replace the property manager.

The seller has been unusually involved with things even after selling the property to me - they let me know today that there was no hot water and they had to replace the heater, and are charging me ~$700.

I replaced the floors, gutted both bathrooms, landscaped, etc. 

For example brick is more expensive to replace thus indicates a higher prem.

Your lease stating tenants are responsible for fines from their actions is definitely a good thing to have, but it’s only mitigating a part of your risk.For instance, let’s say your condo building has 100 units (made up numbers for easy math), and finds it needs to spend $1,000,000 on replacing the roof, siding, and HVAC.

With the BP website and podcast, we are now considering house hacking a small multi next year and renting out the townhouse.We put 20% down for the townhouse and have begun renovating it and making it more modern.