My instinct tells me to just get it over with, terminate the lease (#2 above) and be prepared for the worst if tenant resists.   

If you just gut and rehab try $75 per sf.   

Trust your gut.

My gut is telling me that you should get turn key prices and see if it is within your budget.  

Are you gutting the kitchen and 2 bathrooms?

The smell of cat urine, and more-so, spray is near impossible to remove once it is embedded in the subfloor ... it's even more tenacious than dog urine.We bought a property where tenants and their farm had been for 9-years ... it was a complete gut job - even the concrete slab, under the subfloor had to be treated to remove the smell.Good thing your tenant is paying over market rent as they longer the felines stay, the more it's going to cost to be rent-ready for the next tenant.

Hello everyone, I have a question to all investors who use the BRRRR strategy and the kind of rehab you would do.1- would you go all out full gut renovation on your rehab?

Would this be something I should take a look at and wholesale or do I follow my gut and just say no one is gonna want to buy a house with the outside looking like this.

After doing a gut renovation on my home with a GC a few months ago, I found myself drawn to the process of the renovations.

Actually, I do know of a building downtown Chattanooga that I believe would facilitate about 16 class A units, but it needs to be gutted and built out. - Chris