My question: Do I need some kind of permit to make cosmetic changes to the house? 

For example, a borrower that only needs 50% of the ARV on a cosmetic rehab in my market is far less of a risk in the loan that someone who wants 75% and is then bringing in more of their own capital for the rehab, so maybe make $5k off the deal, if everything goes smoothly.

But there are still a bunch of mismanaged properties or properties that just need some light cosmetic work to jump the rents up, you just have to dig a little more than before.  

No cosmetic repairs, only necessary repairs.

I lived there for two years while doing light cosmetic upgrades. 

I also have a commitment to purchase a home on the same street that is nicest on the street, maybe cosmetic updates, well maintained. 

I suggest either 1) a cosmetic rehab to bring all of the rooms up to meet this lux price, or drop the price to better match the home.Good luck!

Turned out to be a great property that just needed a cosmetic rehab!

Yes, I'm looking for cosmetic updates for each unit between 7K-13K, I do have a few zipcodes in Milwaukee, WI to search there- 53219, 53227, 53172, 53110,53204, 53214, 53226, 53213.The ROI that I expect is 10%-16%, I'm paying by cash.

Purchase price: $248,200 Cash invested: $115,000 Large 3 Family House.Purchased with conventional 25% down with tenant in one of the units.Made cosmetic upgrades to the 2nd unit, furnished it, and rented out by room to students.Converted the 3rd unit from a 1BR/1BA to a 3BR/1BA.