I've been doing real estate for about 2.5 years now, but just recently switched to the off market side.

One benefit of redeploying your capital into more or larger assets is that normally your appreciation will now be calculated off of a much larger total home value.

You need to have a purchase and sale agreement in place with a marketing clause to be able to promote a property. 

They're tired owners, but I've asked them to let me get involved since I don't want them ripped off.

More than enough to pay off loan 100% financed @ 8%.

Where they purchased off the MLS?   

Its based off of what it will be worth after the renovation is complete 

If it were me, I would rip off the band-aid and replace it with LVT. 

However, with high confidence my old property will sell quickly in my current local market it is well worth getting into the next property quickly if the numbers make sense based off the new mortgage.

@Juan MoraIf that is what it was, it wouldn't be horrible... but I'm willing to bet it won't be that:First off, you are betting you can get the house down to $450,000.