We are doing some extensive remodeling and giving the whole building a face lift.This is a smaller town as you would expect so they probably search high and low for stories.  

I haven't purchased my first deal yet, though based on my extensive research on renovation costs I'd say @Alok Sood's estimates are fairly accurate.Good luck and please keep us posted!

@Don Konipol, thank you for your thoughts, it does sound like you have extensive experience in the subject, so definitely appreciate your corrections.  

My max is 2 guys, 2 days, 2 grand in these situations.For extensive reno work, get title first.  

Getting a 30 day extension from your hard money lender shouldnt be that hard either instead of doing a total refi out of that loan.I would accept it and keep a kick out clause, the ability to accept other offers.

•Make sure you're offering a deal that won't burn the other investor...There are ALOT of little things, but educate yourself EXTENSIVELY, but DONT get stuck in "analysis paralysis" .don't buy into the fake guru programs/ the get rich quick schemes.

I have extensive experience with and specialize in preparing real estate investor tax returns and setting up LLCs for real estate investors.

In addition, if the tenant signs a year lease extension, we charge a 10% fee for that.

It needs quiet an extensive amount of work that I estimate in the $35k range.

I also have extensive experience flipping houses and would be happy to answer any questions new investors may have.Message me and I would be happy to discuss further.