The asking price is just a little bit more than the land is worth plus improvements such as, water hookup and sewer hookup and electrical not counting house.any rate, we can come up with the difference plus down payment of course. the house the seller and I agree, its not forgettable.

People tend to over-value their own house - doesn't seem that even the improvement could give you a margin.

You could probably do some quick math and come up with 5-8% of monthly income to go towards capital improvements/reserves.

They were bad areas that would not likely improve anytime soon.  

It depends on how long you have owned it and if you have made any capital improvements as well as other factors but a very "ballpark" number would be about $5K. 

BTW, you can turn your picture the correct side up in your profile.

I read how to improve your financial IQ.

(his rent was 950-1000) My contractor and saw improvements that should be made to take both homes to their top potential and get the maximum ARV.

It's FAR easier to judge someone's character by phone than by online presence on your Airbnb profile. 

Doing the latter would improve my cashflow from that paid for unit from 1000/month (for the paid for house left as is and cashflowing) to about 1250-1400/month of cashflow with the cashout refi used to leverage 3 more properties.I intuitively understand that the refi method will in the end make more money, since I'll have increased my house numbers by 3 (from 3 to 6), adds ~450K to my portfolio in house values (each being roughly 150k) and will have renters paying down the mortgages and also covering taxes and insurance as well.