They'll also want to know if you can handle the carrying costs like interest, electric, water, sewer, garbage, house insurance covering construction, etc, etc, while you're doing the renovation.

Take the "sub-prime" property and renovate.

He directs a percentage of personal project earnings to the cause of homelessness in Los Angeles to provide aid and raise awareness for those less fortunate living in Southern California. 25+ years of sales, management, real estate and business development experience.

Taxable Value 75,830Purchase 50,867Tax 1986.70Vacancy 10%Repairs 5%Capital Expenditures 5%Property Management Fee 10 %Investment results: Purchase Price: $50,867.00 Purchase Closing Costs: $3,000.00 Estimated Repairs: $0.00 Total Project Cost: $53,867.00 After Repair Value: $70,000.00 Down Payment: $10,173.40 Loan Amount: $40,694.00 Loan Points: $0.00 Loan Fees: Amortized Over: 30 years Loan Interest Rate: 5.000% Monthly P&I: $218.45 Total Cash Needed By Borrower: $13,173.00 Monthly Expenses: $643.95 Total Cash Needed: $13,173.00 Cash on Cash ROI: 5.11% Purchase Cap Rate: 6.48% Really, I know it’s not a great deal, but it’s a property that I can buy into for cheap.

Steven Mitchell Currently manage projects of that nature.

I have no idea what a project like this costs and need some insight. 

@Gilbreth Seno  A lender will do this as part of a renovation loan; however, the cash won't go directly to you - it will be paid out to your contractors for the repairs.  

Can anyone suggest an investor-friendly Real Estate Agent/Broker and Contractor for my repair projects in Houston, TXThanks 

With that being said, a 7 Cap hotel better be fully renovated and running amazing operational margins in the South East part of the United States.

The inherited tenants - with the farm of cats and dogs - I mentioned earlier, the renovation following their departure was pushing $25,000 .... yes, we changed the layout and upgraded the kitchen and bathroom ... but only because we had to rip-up the subfloor (and the interior partition walls which sat upon it).