So far I've been happy with it, but I'm still learning the ins/outs to utilize the full potential.

No wonder his current materials include panels of lawyers talking through the do's and don'ts!

I remodeled my own house last year myself and it costs half as much and has higher end materials than if I were to contract it out.

There is plenty of material here on this site to get you started.

Utilities for all apartments would be separate.I asked the local codes enforcement what would change if I did make this into a three unit and he warned me that I would be required to have a sprinkler system in all units and an alarm system.

I have not spoken to the owner yet (but will) but my friend also said that the property has had full vacancy for over 3 years (mostly elderly people), Utilities are metered individually, refrigerator, gas range, washer/dryer hookup in each unit.

Wondering who pays labor and materials for the rehab and how that cost is divided.Management then would seem to need to be an infinite time frame.

If that is the case there is at least two entities putting a 15-25% markup on the materials.

They could wholesale it for 5k and their funds would be utilized for 3 days.5k profit / 154k total investment = 3.2%365/3 * 3.2% = 389%If you could retail it for 30k after 3 months.30k profit / 175k total investment = 17.1%365/90 * 17.1% = 69%Earning a consistent 389% return would mean your money is "perfectly" deployed.

Also some the utilities data.