I probably should know the difference), I can't really get a loan.This would've been my first investment property, so you can see that this is a nerve wrecking purchase.The house needed a ton of work (redo two bathrooms -- including moving walls, redo kitchen, siding, etc), but it's literally 3 minutes walk from my home.

I spent the day freshening up the home, adding home decor and adding a few touches such as adding little hotel soaps and shampoos to the bathrooms and rolled white towels. 

Everything in the kitchen needs to be replaced, the bathroom needs a remodel, all of the carpets need to be replace, some paint and a few touch ups should be everything it needs.

Hi everyone, first post here.I have a 3 Bedroom 1 Bathroom SFH located in the suburbs that I am preparing to rent out. 

What that means is - don't just go to Home Depot or equal and buy the first bathroom faucet you like, and expect it to fit on the trailer. 

I've been to the property with a contract and we're looking at around 15k to make some desperately NEEDED repairs...one of the bathrooms nearly needs gutting, walls must be repaired, flooring is real wood but needs resurfacing.

The bedroom is nice and spacious about 600 sq ft that includes private bathroom, a closet and private patio.

Great location -> appreciation potential and easy to find good quality tenantsAppraisal price after all the work as of 09 2019: 166k - 171kMonthly rent: $1050 (2 bedroom, 1 den, 1 bathroom, 2-floor unit) $850 (1 bedroom, 1 bathroom, basement unit)Reserve: Vacancy 8.3%, Repair/cap ex: 12%, PM 10%, PITI: $737 Lessons learned?

Current condition of home does not have any exposed studs, but has one bathroom with out a vanity/floor, another does not have floor.  

Here's the details:1st floor has existing lease that is up in April and pays 500 a month (Average for 1BR in this market is 650-750) which I intend not to renew in when it is up in order to do renovations and then rent for the higher 700-750 range.2nd floor currently has no tenant, which i intend to do a minor facelift to kitchen and bathroom and ask in the 700 range (With the existing lease and even making 600 a month on this unit, I can cover the mortgage, but with no cash flow).I'm going to submit an offer contingent on the condition of the 1st floor property, however I'm reluctant to go into this with an existing lease.