I am thinking about doing going big or quick and easy...Option 1: "light rehab" of paint/cheap floors/etc.   

Learn how to spot liars, buy good tools, keep yourself in good shape, demolition is cheap and dangerous, finish carpentry is expensive and less dangerous.

They usually charge 15 to 25%, and will throw in random (often fake) charges for things like "lock maintenance" or other non-tangible things.

There were so many of them, and they were so cheap.

I've got an opportunity on a building for extremely cheap.

I moved to Memphis TN a couple months ago to take Advantage of the Cheap Properties here.

- Everything takes longer and costs more than you expect, especially when you throw in a global pandemic. - Builders are not always organized and good at record-keeping, so be careful when partnering with one. - Do NOT overbuild.

If doubling down with more work and funds is not going to override the location or workable, sell this week, right away, fire sale and call it a day.My theory is to never throw good money after a bad pick.

@Varinder Kumar 4k sounds awfully cheap especially for CA.

My friend/advisor with more experience says I am being a cheap knucklehead and that the $20k is not relative when you factor the forced appreciation and income/valuation of the improved asset(proforma), but, I think it is math and $20k is always relative and I have my criteria(4.5cap) and was very transparent about it from when I first submitted the original accepted offer, and my DD uncovered several hidden deficiencies that make the credit necessary to maintain my original underwriting numbers and even though I understand my friends rationale, I don't want to give in any more slack(adjusted to 4.4cap), than I already have...What do you experienced multi family acquisition people think?