Some renovations on my current property are necessary, while others I believe will add proper value, but that's not the focus of my post.Once I sell my current property, I'll have approximately $165K in cash not accounted for in my budgeting, and I have 100% options on utilization.

If you do not have the cash,look to bring on a partner to bring in some of the cash and give them a percentage of ownership in the project.

He gets paid in installments as he hits mile markers in the project.

Hi everyone, I'm currently undergoing renovations for a rental I just purchased here in Sacramento where I live.

I'm in the process of doing something similar but I was looking to do a ground-up project in the Hudson Valley.

I also have had several contractors see the project

The present value could also be $1123.58, it doesn't really matter as long as we use the same vale for the present value for Project A and B.

When the cat leaves, the mice will play"As an out of state investor, the mice are always playing.It takes years and years to develop trustworthy relationships with feet on the ground.Even then, you will loose money just like we do to this day in Toledo to shady contractors, etc...And we have a whole team of people on the ground including myself and my co-founder.Granted, if you do it right you can find amazingly cheap deals, renovate and have immediate equity plus jaw dropping cashflow.I would advise moving to the market you are considering and getting your hands dirty for a few years.Easier said than done but if I moved from Sydney, Australia to Toledo, Ohio.Anyone can do the same lolWishing you much success

After their lease expired and they moved she had to pay ~$20K in renovations. 

Hello Everyone,Last year, I purchased a property using a DSCR loan for a medium renovation.