Link to Purchase listLevel of finish - similar to this : 538 s harvey ave , oak park , ILLink to Model homeAlso if any one is in similar stages of rehab and want to exchange notes on methodology , finding contractors , finding materials , Finish choices , please send a connection request , I am a big believer of sharing knowledge and firmly believe 1+1 = 4 .P.S: Even if you are not experienced and just looking for advice I am open to talking.

Including equity with the debt paydown this would be a ROI of 11.9%.The home is advertised as in the finishing stages of being refurbished/upgraded with some finishing touches still needed on the outside (although it sounds like they intend to finish the work and have it move in ready before selling, I’m just going from a Zillow post here).  

We currently have three properties, one is rented and the others are at various stages of rehab.

Don’t just dump it into a bin. "  I live in a historic house, in a historic neighborhood where we are in constant stages of renovation and dealing with lead paint is common.   

These are also 1 bedroom units so the tenants can't cram excess people in.

In this case, there is no advantage to foreclosing since this will sell at trustee sale and the borrower will be entitled to excess proceeds.The lender absolutely needs to comply with an authorized request for a payoff, especially when it comes to owner occupied loans.

In my case, the initial investment was money that I had in excess to experiment with.

I should pay more attention to smokers in the application stage.

TONS of new investors fail because they think they can immediately start living off of excess cash. 

If they are obviously "excessive" then it may be very easy to justify.That said, after 3 years painting is generally no longer deducted from a security deposit.