It could cashflow if I added a bedroom in the basement.I'm a fairly conservative investor: a minimum of 20% COC, 2% rule, with a good buy and/or multiple exit strategies.I actually discovered BiggerPockets because I ran into issues purchasing my first two condos - I could not get the bank to finance the second condo because there was too many rentals within he complex. 1) Condo (1/1) - purchased w/ 5% down as an owner occupied property (one of my best properties)2) Condo (2/2) - got denied so I got creative and used the checks that credit cards sent you (25k) from three different cards, begged friends, and had about 15k in my bank.

Also does anybody have a fairly simply commercial lease they would be willing to share?  

If everything goes well and if I can sell the home for $1,200,000 I believe we can profit around $300,000.What would be a fair split between y partner and I?

The last painter I hired, which granted is a fairly modest job compared to what many contractors are doing on your major renovation projects, my dude gave me copies of all the receipts + a summary of receipts page, as well as a bill showing his hours worked and hourly wage, and a final piece of paper that literally had $Parts + $Labor = $TotalBill.I felt that this was uber transparent and really appreciated it.

As an example, you can find fairly easily in Waterbury, CT that many units will sell at $30K and rent for $700+ (2+%).

Today (4-1-16) is my first day on BP and I'm fairly new to Real Estate Investing on a technical level.

I'm fairly new myself.

What I can say is that although property values are high in Anchorage, the rents are also very high making the numbers work out fairly well.  

The carpet is still fairly new, so it's not worn down or anything, and no other tenants have had this issue in their units.

It's fairly expensive and really geared toward a full blown management company.