Concrete:  $75 a yard installedBrick:  $.50 per brick installedpainting:  $100-150 a room with trimexterior painting: $1800-$2500new hvac : $2300new window:  $100-$150 for standard sizes x 2 for installdrywall : $12-$18 a sheet finished (depends on finish level and size of sheets)tile: $5 a square foot installed (add material cost of between $2 and $10)basic stainless appliance package : $2500hardwood $2 a sq. foot installed $1 a sq foot to refinish (add material cost of $2 to $10)plumbing:  $100 per fixture to install and $100 per fixture rough-inelectrical: priced per outlet and per fixture for both rough-in and installTotal rewire of house:  $3K-$6Kupgrade electrical service:  $800Total replumb of house with pex (no slab): $2K - $5K10x10 set of cabinets no frills:  $2500, about 1 day for a capenter to installcountertops: $1500-2000new roof:  $5K (metal including materials)deck:  $2K-$5Kbulldozer/bocat:  $80 an hourdumptruck:  $1.50 per mileCarpenter:  $35 an hour low end + $10-$15 an hour for helpers. 2 carpenters can frame an entire house in less than a week.  

The loan with a security interest in the house is 1st position is for the $261,000 purchase price with 2 points up front , 11% interest with interest only monthly payments, remainder due on sale.

Be very conservative on your ARV (final sale could be 10%-15% below your asking), don't forget to factor in construction overruns and discovery work (typically budget a 15% cushion), don't forget to budget acquisition costs (6%-10% of purchase price), selling costs (6%-10% of ARV) and holding costs (be conservative it will almost always take longer than you think or than your contractor tells you and may take more time than anticipated to sell and for buyers to secure funding).  

Go for it, as long as you can secure funding to pay it back before it is treated as an early distribution.

Hi @Lori Beard,I work with a Turnkey Provider and, from our experience, the two best ways to secure your investment is by purchasing a property from a company that only manages properties they have personally repaired.

This could be in the form of offering to pay the security deposit on their new rental as well as their moving costs.Gail

Most rentals with higher perceived risk can be offset by requiring an excess security deposit and/or a third-party guarantor for the lease, and/or prepayment of rent. 

Ask them how much their rent and security deposit is.  

@Mathew Gunkel, I know it's emotionally logical to put your primary up for extra risk as a last resort, rather than first cab off the rank, BUT, that's why the PURPOSE for the loan should be really carefully considered in the first place.In case I came across as someone who knows what they are talking about, I don't actually know the HELOC rules/interest that Lenders have regarding using your primary as security vs your investment.

Should I get a secured or unsecured?