The roof, hardwood flooring, windows, gas fireplace, and water heater are all new as of late 2014.The best thing I think, is that I have a closer working relationship with the owner already as he is my landlord who is retiring, and I have been renting this place from him for the past year, so I definitely know it pretty well.

Water is the easiest for you to pay for, after that I start to get twitchy on the "don't buy" button...When owner pays the utilities, you get tenants who crank the heat up in the winter, and when they are too hot they open a window to cool down...

Lima does compete with Black Rock and 3 others that do similar business  but they are not the most cost effective.As for the numbers...You buy a house for  100K with hardmoney in Tacoma .....maybe you put 20K down so you owe 80K to a ((SHORT TERM 12 month)) hard money lender as  all the windows are busted and it is a mess and at that point only worth the 100K you paid.....but in a great neighborhood of 200K homes.You spend 30K on the Repairs......If you hold it 90 days....and you are now in title ....After you fix it ...It is then re-appraised........once it all pretty and has a tenant in ....for a new fixed 30 year loan based on it FINISHED A.R.V. value...Your new REFINANCE  loan is based on 75=80% of the  ARV finished value.....which I hope is about now worth 160,000 - 170,000.ooSo 75% of the  new160,000  = $120,000 new loan amount.....which pays off your hard money loan of 80K and the 30,ooo repairs your put in ,....and almost all your down payment.You have now recovered all your costs in  place....and have a fixed loan covered by the rents...Wash Spin Rinse Repeat.....As for the Rates..we are both a FNMA lender and commercial lender....so these are accurate..1) FNMA owns 80% of all residential mortgage paper in this country and 30 year fixed - Full Doc loans at 3.75% to 4.25% => Credit Union and Residential A paper lenders VA -FHA -USDA etc2) Commercial loans - 30 year am 5,7, or 10 year term = full doc loans price with good credit price at 4.375% - 5.5% ==> Think community banks and big 5  - WFC  - BOA - Chase etc and local Portfolio S+L's and some Commercial Credit Unions....3) Stated Income Hedge funds....30 year fixed - No Doc  or  Low Doc with Great Scores ===>  loans price at 5.75%  - 7.5% ...think Black Rock, Velocity,  Lima,  RNC and others4) Hard Money = short term to 3 years....prices at 8% - 10% There are no hedge funds or finance companies like Velocity or Lima or RNC or  Blackrock that will make you a  loan < under 6% as they need the 300 basis point spread over the 10 year commercial swap rate to cover their cost of funds...regardless of L.T.V.I get wholesale rate sheets from some 30 lenders a day/week....and that is the risk/reward spread.Hope that helps explain the process and the tiers of lenders...

He also replaced the windows, again without permits.  

There will be dead space unusable, unless I remove the back wall to open to the  the  garage to add a little to garage space, which does not add much value to the house;Add a sliding farm door  to cover it and convert the nook into a closet.

New roof on car port. 15 new windows, concrete drive was poor.

I looked through the window and the kitchen looked ok it was plain white but I think it would need to be changed as well as the floors. 

My wife says it “looks confused” due to window placement.We are moving rooms around and replacing every single window.

Hi all,I have it with old bathtub with sliding door, I want to take the sliding door out and put it back as curtain style but tenant refuse too.Anyone who ever replaced bathtub sliding door before?

To others: there aren't qualifications that I know of, although I didn't know you could get a LOC on top of using it as a project payment plan if I read that right... they've always offered this to me when talking about individual project payments (say getting estimates about installing windows or a roof or whatever) I haven't yet used them for a major project.