Also, i would need an investor to help me with this property and remodel -something that i have never used before and scares me some- I'm just now starting to make a profit on my cabin and have ways to go before breaking even on my cash investment.

@Rosa Lepore Yes typically one JV partner funds the remodel and the other the purchase.

We remodeled the entire home.

In a reviewed decision, the Tax Court has held that taxpayers, who voluntarily demolished and constructed a new house on their property in order to enlarge and remodel their home, couldn't exclude the gain on the sale of the new house under the Code Sec. 121 exclusion for the sale of a principal residence.

The shower was remodeled but we were not able to retrieve documentations or basic facts as to what year it was remodeled, etc. 

Every property can be repaired and remodeled.

This is my absolute first flip that I bought and remodeled (some myself and most hired out).

Obviously speed will be the key but how do you handle a kitchen remodel and replacing floor when a tenant is living in the property?

Moved in half, did a basic remodel (floors, paint, light fixtures, kitchen), renters moved out, I moved in other half, and and rented out the new side for $800/mo.

They have been paying it down for the last 5-10 years and have substantially equity in their home due to remodel and fixing it up etc.