Complete remodel including new flooring and paint throughoutupdated the bathroomremodeled the kitchen- added a dishwasher and gave more dining room space (did not remove a wall just remodel the kitchen so that the refrigerator could fit in it) added more cabinet spacenew light fixtures throughoutadded curb appeal What was the outcome?

Although sometime these 1031 scenarios seem like 50:50 :)  I would greatly appreciate it if you could shed some light on one other thing that is happening in this purchase.

"by the dashboard light" - not so strong an indication - why? 

3-$12k for a reno is very light are you confident in that number?

That might light a fire under someone. 

Step #PhaseStep1DiscoveryTalk to experts and learn (process, tips, design tips)2DiscoveryCreate social media and document story3DiscoveryGeneral research - budget considerations, financing options, permits, regulations, tax considerations4DiscoveryMarket research - competitor analysis, analyze guest reviews, market trends5DiscoveryGather ideas/inspo (blogs, articles, youtube)6DefineCreate brand and vision7DefineCreate guest requirements (e.g. coffee maker, natural light, near activities, etc.) and prioritize must have, nice to have, etc.8DefineSketch idea for look and feel (architecture and design) - map out the floor layout9DefineConsult an architect (is this needed?)

The dog uses the bathroom indoors on those pads.  

I hope it also sheds a light on some of the challenges faced in real estate.

I would take that money and do one of a few things with it:1-Look for a JV partner to do a larger deal with2-Keep learning about the market and investing as a whole and sit on the money until you have enough education to leverage it3-Use the money to set up your real estate business and buy leads & marketing betting on yourself may be the best of the optionsAlso tread lightly around the leave NJ advice places like OH, Baltimore, even parts of South Jersey can be money pits where ripping off out of towers is a cottage industry.

I hope it also sheds a light on some of the challenges faced in real estate.