Replaced all windows and exterior doors, 2 interior doors, painted complete interior and many minor repairs, Drum sanded all wood floors( hardwood throughout) What made you interested in investing in this type of deal?

So I want to break down the deal below, and get a few of your suggestions on what our next move should be AFTER the rehab.Found the deal at an auctionIt is a single family home, 2935 sq ft, 4 bd, 3 bth in and absolutely FANTASTIC neighborhoodPaid $150,000 for the housePaid about $6500 to closeAppraisal came back at $187,500 and it hasn't been updated since the 90s as far as inside appearanceNo major flaws, mostly cleanup, cosmetics and updatingFactored in $30,000 for the repair costs (roof, flooring, paint, kitchen/bathroom updates)We put $30,000 down for down payment$120,000 will be financed at 4.5% PITI is $1030 (after remodel PITI will go down as we are switching to a landlord policy)After remodel will rent between $1500-$1700, maybe more but doing a little digging on corporate rentalsWorst case will cashflow right around $300 per month ARV will be in the range of $250,000 on the low end.  

we did some cosmetic updates in the kitchen, new stainless steel appliances, fresh paint and flooring throughout.

Last July, my fiancé, now wife bought a 2 flat that was advertised as a SFH and the zoning certificate says SFH, but it was built as a two flat. 4 entrances, 2 baths, 2 kitchens, 2 furnaces two 1960’s mailbox slots in the brick etc.

If you wait to long, you might have missed a small window to salvage the project.Here are some red flags for bad contractors courtesy of the Asset Based Lending Blog (abl1.net)They don’t want to sign an independent contractor agreement.They resist getting specific with milestones and deadlines.They resist giving you referrals or allowing you to visit a current work site.They may hedge on pricing and estimates.

Putting in all new flooring, paint, baseboards and kitchen cabinets & countertops!

Much work has been completed from roof, decks, windows, electric, interior cosmetics & more.

Then he cut into the outside wall to make an opening for a new window.

The rates are $750 per room in 3 rooms, $700 per room in 2 basement room when they are finished, and I will be living in the master.I want to add 2 more bedroom as soon as possible, but I also want to do renovations in the kitchen, put hardwood floors, remove popcorn ceiling (asbestos), put in recessed lighting, new internal/external paint, remove a load bearing wall, and etc which a contractor said will cost around $80k (I think I can go IKEA kitchen and go cheap on other things and save $30-40k.

The converted garage is right off the main kitchen.