Here, its $3k to swap out a tub/surround and do associated drywall/paint work. 

If in fact any are fabricated please don’t let me find out as it would break my heart worse than when I found out there is in fact no fairy that breaks into my house at night for a weird swap of a dollar to collect children’s teeth.   

We keep an extra washer and an extra dryer in our garage so that when one breaks down, we can swap them out quickly for the renter.

Lima does compete with Black Rock and 3 others that do similar business  but they are not the most cost effective.As for the numbers...You buy a house for  100K with hardmoney in Tacoma .....maybe you put 20K down so you owe 80K to a ((SHORT TERM 12 month)) hard money lender as  all the windows are busted and it is a mess and at that point only worth the 100K you paid.....but in a great neighborhood of 200K homes.You spend 30K on the Repairs......If you hold it 90 days....and you are now in title ....After you fix it ...It is then re-appraised........once it all pretty and has a tenant in ....for a new fixed 30 year loan based on it FINISHED A.R.V. value...Your new REFINANCE  loan is based on 75=80% of the  ARV finished value.....which I hope is about now worth 160,000 - 170,000.ooSo 75% of the  new160,000  = $120,000 new loan amount.....which pays off your hard money loan of 80K and the 30,ooo repairs your put in ,....and almost all your down payment.You have now recovered all your costs in  place....and have a fixed loan covered by the rents...Wash Spin Rinse Repeat.....As for the Rates..we are both a FNMA lender and commercial lender....so these are accurate..1) FNMA owns 80% of all residential mortgage paper in this country and 30 year fixed - Full Doc loans at 3.75% to 4.25% => Credit Union and Residential A paper lenders VA -FHA -USDA etc2) Commercial loans - 30 year am 5,7, or 10 year term = full doc loans price with good credit price at 4.375% - 5.5% ==> Think community banks and big 5  - WFC  - BOA - Chase etc and local Portfolio S+L's and some Commercial Credit Unions....3) Stated Income Hedge funds....30 year fixed - No Doc  or  Low Doc with Great Scores ===>  loans price at 5.75%  - 7.5% ...think Black Rock, Velocity,  Lima,  RNC and others4) Hard Money = short term to 3 years....prices at 8% - 10% There are no hedge funds or finance companies like Velocity or Lima or RNC or  Blackrock that will make you a  loan < under 6% as they need the 300 basis point spread over the 10 year commercial swap rate to cover their cost of funds...regardless of L.T.V.I get wholesale rate sheets from some 30 lenders a day/week....and that is the risk/reward spread.Hope that helps explain the process and the tiers of lenders...

Terry Power our stories can be swapped.

I wish I could swap it out with mine but again that's not practical.

It worked fine but I found that I was constantly walking people step by step through the process, some folks didnt have full time computer access, some people couldn't provide an email address etc.So I swapped over to using another tool/method of simply collecting an application fee up front and have them fill out the application on my website or in person.

On the other hand, solid wood floors would probably pay for themselves if I didn't have to swap out carpet maybe twice or three times, and they are pretty impervious to dog smell and urine.Are there any thoughts on what kind of finish out to do if i plan on holding the place for 20 years and if the rest of the build is probably above average in quality?

Starting out with self management may be a good start then if you decide it isn't for you, you can always swap to a manager. 

There's probably a shower head on one of those partition walls.Not sure your budget or ARV but I've swapped the shower for the toilet, making it a 2 sink vanity - toilet - walk in, tiled shower...Or keep it as is and get creative with some colored walls and a new cool/retro vinyl or tiled floor because it's nice to have a separate toilet room in a shared bath!