Use it wisely, and create as many of those kitchen table moments as you can if that is where your strength lies.

Need to be reminded from time to time.Paid $300 to have a kitchen and surrounding area cleaned up (fire mess) only to end up gutting the kitchen.Forgetting to get stuff ahead of time for workers.Forgetting masks going to the dump and disposing carpet and sheetrock with burnt up insulation all over it.

I have attached a before and after of the kitchen.  

I appreciate all of the insight, this particular property would take a major overhall, huge wall caving in, in the garage, new roof, kitchen needs remodeled, bathroom needs remodeled, the entire yard needs redone, the whole house needs carpet, new walls in some rooms and paint, you could easily sink 50,000.00 into the home if you don't do your own work.

I then incurr the following: 1) Update bathroom and kitchen (repair, perhaps reface, cabinets; replace appliances; update fixtures to low flow), replace carpets, and paint the unit - 6 - 8K; 2) Advertise, show and fill the unit: say we do this ourselves and cheaply for nothing (if you were using a PM, it would be 1/2 to 1 months rent); 3) We are quick and only incur one month's vacancy: $700.00 In this scenario, I have costs and missed revenue totalling a minimum of 6700.00.

* 3BR/1BA * 1,024 Sq Ft * 2 Story Home COMPS in the area include: * 2120 Lambert St - Sold for 105,000 * 2114 AS Norwood St - Sold for 107,000 * 2063 Snyder St - Sold for $110,000 Estimated Profit Potential - $24,000+ Estimated Rehab cost of $13K assumes new kitchen, bath, carpet, heater & hot water heater and paint.

New kitchen, roof, new baths etc....

I've done about 10-15 roofs, completely torn out kitchens and baths, re-framed for termite damage, etc.Most of these I held as long-term rentals, some I sold sooner than I planned because they ended up attracting problem tenants.

We purchased the house as an investment property to rent out. we have the rent set at 1695, which seems right in the ball park for the area, given the other ads I've read. nice curb appeal , extended family room with vaulted ceilings, pergo and wood flooring on the first floor, bathrooms redone, nice window treatments, all appliances in kitchen, washer/dryer--total move in condition. and good school district. i've only had two calls in a little over 3 weeks. is winter just a tougher time to find tenants?

In the end the rehab cost me $17K, some of which because I tend to "overimprove" on some cosmetics (kitchen and bath) and I don't take any "shortcuts" on structural and other things.