The home with its sharp edges and multiple level roof lines at angles is very contemporary in nature, does that appeal to he buyers of Austin these days?

Roof, driveway resurfacing, interior painting, flooring can be done in a week.The point is, that much of what wholesalers do can be done without ever taking title.

The roof has a lot of life left.

The result was an under the sink water leak that went undetected for too long.

The backyard overhang looks in bad shape so I would assume the roof is not the greatest either.

Got a great deal on this place, and going to do well when I sale it in the next few months.Right now I am running my roofing business (which I have done for nearly all my working life) and rapidly moving my way into the fix and flip family of investors.

The gas company came and found 2-3 leaks in each unit.

Taking the cheap with repairs route you now know that what is being done is all set and shouldnt be biting your wallet again for quite awhile ( roof, water heater, furnace etc ) To try and ballpark answer your question of : " How much does it normally cost to do the necessary renovations for a "7 000 dollar" house, to make it ready for tenants?"

It has four apartments upstairs and a 4000 sq ft store front. it has not been updated in over 20 yrs. that's right up my ally and i really enjoy that building. here is the statsAsking price $85000Electrical update to code, bid for $23000 owner says she would pay $10000Apartments would take around $10000 each to updateNeed a new roof and furnace in 5-10 yearscurrent rents with new tenant will be around $2400 all updated could bring around $3000.Water, electricity, gas run about $600/mId love to get it at $60000 and plan to update apartments as tenants move out with a goal of being fully renovated in 5 years.

If you can't get a contractor over there right away a ballpark figure of $20,000 per unit for carpet, fixtures, appliances, stripping wallpaper, texturing, painting, new windows, wood pest repairs, landscaping, systems repairs (heating, air, plumbing, electrical, roof, siding, doors) suggests a budget of $80,000 or more.* Hire professionals to do all the skilled work.