Originally posted by @Shaun Calloway:I found a deal the other day that looked like this: $100k for 3/2, 1600sf, decent yard, decent location, comps could maybe get to $150-175k, no mortgage - house is paid off.

go easy on me, I'm color blind and a terrible artist...heres what I put together...Rough sketch with the walls i want to remove in red, existing/walls I'm keeping in yellowhttps://drive.google.com/file/d/1h9Zsm8YeuIYLlbInY...Rough sketch overlay to aerial photo to show hip roof. https://drive.google.com/file/d/1OK90I7ikqJp6_7b7a...Attic shot looking west from the corner. 

Originally posted by @Trent Lee:I’m fairly new and looking for some recommendations.

Here's a summary of the economics.They purchased the property for $280,000 in 2004.The loan balance is about $178k.Monthly principal and interest payment is about $1,265 with $709 currently going to interestProperty taxes are $4,116 annually and insurance is $1,000.Currently the house is vacant for the sale so there's no rental income.Therefore, the monthly burn is -$1,135 (ouch).For the sale:Property was originally listed at $335k and they received 0 offers at that price. 

Something, that will track the equity in each property, can calculate the ROI, ROE, and projected IRR in real time.If something like this exists, I would greatly appreciate the lead.

I wish I had a 15 year note as the original purchase.

Originally posted by @Marlon Long:Houston we have a problem. 

Originally posted by @Thomas S.

Adjusted cost basis is your original purchase price plus capital improvements minus depreciation. 

Originally posted by @H W Beckley:@nathan g that sounds like great advice.