Fixed everything inside but the walls (new kitchen, 2 bathrooms, floors, paints, carpet, staircase, lights, ceiling fans, etc).

Flooring is a low-ball number if I were to replace hardwood, but if we're refinishing and carpeting bedrooms that number makes sense to me.

He replaced the carpet (had three dogs that weren't house trained).

.- We do our best to eliminate carpet and replace it with vinyl click and groove whenever possible.  

Just remember it can be a messy ordeal, and is like a marriage. 

It's essentially turnkey minus the usual maintenance such as new carpets and paints.

We finished up the inspection downstairs, then went upstairs to find a lovely surprise on the hallway carpet!

Data: A potential offer: $95,000  --  Closing cost: $3,000  --  Initial Renovation: $5,000 (paint, carpeting; approx 2000 sf)  --  Estimated rent/month: 1,500 total both units  --  Loan amount/I.R.

We target homes in better school districts and our tenants move here for the schools; they are usully long term tenants, which keeps turn over cost low.About that: our average rent is about $1,500, so when a tenant calls me to move out, that's a $5,000 phone call:- one month vacancy $1,500- re-leasing, one month rent $1,500 (okay I self manage, but my time is worth something)- clean up, paint, carpet etc (wear and tear, not covered by SD) $2,000So, based on that it's easy to see why we do a lot to keep our tenants happy.- during initial remodel we finish the basement as a family rec room- our homes are nice and modern: new kitchens, bath, recessed lighting, stainless steel etc- we do NOT raise rents, at least not inside of the first 3-5 years (this would be a sin on a MF!)

Come home to fresh paint, new millwork/doors, new hard surface flooring, new carpet, and more.