We know it needs new electrical, AC, fans and lights, paint, flooring, and miscellaneous.

Also, run a 'breaking the budget' scenario, I do this AFTER accounting for contingency, so if I do break the budget this bad then stuff has really hit the fan.

Renovations included new granite in kitchen and bathrooms, new commercial stainless kitchen sink, new vessel sinks in bathroom, new tiled shower, new vanity mirrors and fixtures, new  LED lighting and 4 ceiling fans throughout, new vinyl plank floors with new carpet in bedrooms, new interior and exterior pain, stained deck, new fence on 3 sides, chimney repair, new cabinet hardware and new door hardware throughout, new plumbing fixtures, added channel/french drain at end of driveway for water pooling, added drainage near front of house to divert rainwater, added landscaping beds, river rocks and pavers in backyard in shaded area where grass will not grow, replaced IG thermal glass window.

Renovations included new granite in kitchen and bathrooms, new commercial stainless kitchen sink, new vessel sinks in bathroom, new tiled shower, new vanity mirrors and fixtures, new LED lighting and 4 ceiling fans throughout, new vinyl plank floors with new carpet in bedrooms, new interior and exterior pain, stained deck, new fence on 3 sides, chimney repair, new cabinet hardware and new door hardware throughout, new plumbing fixtures, added channel/french drain at end of driveway for water pooling, added drainage near front of house to divert rainwater, added landscaping beds, river rocks and pavers in backyard in shaded area where grass will not grow, replaced IG thermal glass window.

I am not generally a fan of single tenant properties but they can be a good investment with the right tenant and property. 

Good luck, I am not a fan of having animals in my properties and will probably be using your addendum going forward.  

I didn't know those markets nearly as well, no strong connections with people to help on the buy-side, renovation, management, or when the S hit the fan. 

https://www.investopedia.com/terms/s/section1245.aspThis question wasn't just about $2,000 carpet but also $1,600 granite, $800 ceiling fans, $400 recessed cans and more which were multiple items as different UOP which were part of a $18,000 rehab which thanks to DMSH expensing can be expensed and "forgotten".

Jonathan,I am personally a big fan of Roth due to many tax advantages it provides.

The cool color changing LED light and fan is now in. carpet has been installed in the bedrooms and they are wrapped up. 190-2Carpets are in the bedrooms The hall is in primer and should be painted shortly.