This location here is in one of the bedrooms, nowhere near the kitchen or bathroom, so I don't see any immediate ways in which water could've settled up here.

We have done almost all of the work ourselves thus far including:New kitchen and opening of floor plan on first floor (not completed- still needs trim and some custom cabinetry)New deck and sliding doorsRework of 2nd floor to add bigger closets, 2nd floor laundry and new larger bathroom (bathroom not completed)Total cost of renovations so far: $25kThe reason we only paid $154 is because the stairs to the 3rd floor are in the 2nd floor bathroom!

Find similar properties (what we call comps or comparables) based on square footage, lot size, bedrooms, bathrooms, age, etc. and use those as your ARV.Networking within a group is great, but ultimately the numbers you're analyzing will come from experience and will be situational (every deal is different). 

There is one bathroom upstairs and one downstairs. 

Walk in shower, small vanity and toilet, drywall installation, plumbing and electrical, cost effective materials.Are we bring unrealistic in assuming we can get this done for $15k if we did some items like tiling and flooring ourselves?

It contains 2 bedrooms and 1 bathroom in each unit.

Now go back and create a scope of work that will get you to the target, and of course you are looking at things that increase value like - kitchens, bathrooms, mechanicals, roof, windows (these are your value earners). 

A corner unit slightly smaller than mine that was not renovated closed for $405,000 in March 2019 and there is a pending 1 bedroom slightly larger (has a small study and larger bathroom) at $439,000 which will be closing 7/31 so I will be able to see the sale price soon.

18613 Fox, Redford, MI 48240Bedroom 3 bathroom 1.5 - 1032sqftOff Market Redford Township property near Grand River!!

Kitchen and bathroom remodeled on 1st and 2nd floor.