Building and 2 trailers "remodeled" (I haven't seen them yet)21 spacesI have spoken with owner/operators (mom & pop type) and the actual and current financials are:Income 7900 (I calculated everything at 7600 to be slightly conservative)Expenses 1600 (includes all utilities)My calculations set aside 30% for Maintenance/Cap Ex/Management.Our offer would be 500,000 @ 3% with 120k down, 15 years.This means we would only cash flow $1100/m but would have a valuable asset in 15 years.

I like the idea of being able to see the property, neighborhood and manage the repairs/remodel myself.

Small remodel and furnished the unit What was the outcome?

Simple remodel and furnishing.

Loan, remodel of the whole property, stripped to the bone.

We will likely make some changes in the next 12 months for “our” appreciation and use but hold off on others intended to increase its rent-ability.Generally, the repairs made on your primary residence are non deductible however a  taxpayer who is an individual may capitalize amounts paid for repairs and maintenance that are made at the same time as capital improvements to units of property not used in the taxpayer's trade or business or for the production of income if the amounts are paid as part of an improvement (for example, a remodeling) of the taxpayer's residence.The money you spend right now will get added to the basis and will be recovered via depreciation or when you sell it.

I purchased my first rental in Poughkeepsie this past December and it needs a bathroom remodel.  

The phrase " Pay me now, or Pay me later ", comes from a contractor denied the job because he was more expensive than the "buddy and his friend down the street".While the project may have been underbudgeted and the worker thinking remodeling is as easy as YouTube makes it seem, you will get another chance to do a better deal!

I was hoping to find a bank that would do the 10% down so I can keep some extra cash for remodeling... the goal for the next house hack is a BRRRR.

I’m doing a remodel complete remodel and up date of my 1926 bungalow style home in San Diego, Ca.