You may also realistically need to plug in higher numbers for CAPEX and repairs because the properties are likely not updated and the type of tenant who rents will be harder on the property.

It was a fairly simple renovation since the kitchen was in great shape and the flooring had been updated.

Mostly surface cosmetic updates such as new trim, paint, and minor exterior cleaning/fixes.

Took 4 months to complete extensive rehab (bath & kitchen updates, added office, refinished hardwood floors, paint, landscaping, etc.).

The house was in move-in ready shape, but some updates were needed such as bathroom remodels and window repairs made.

We also redid the flooring throughout the home with LVP and updated the kitchen cabinets.

To help this we are going to update the kitchen and put time in the bedrooms that have old carpet (thinks we wanted to do anyway)2.

Note that in some cases, the investor selling the property updated the interior.

@Amanda Thompson can you update us on what happened?

Update on the pricing though: based on a walkthrough of one property I've dropped the offer to allow us to be all-in for 70% ARV with a $40k reno.