I don’t see the need to upgrade anytime soon.As I find more great products that are either already customized or can be customized for this industry I’ll definitely share.

Due to interested people who want to help, things like the audited financial statements can be donated or heavily discounted which would impact the bottom line numbers to get started.It would also require a lot more communication about the project, the repairs and upgrades needed and how things work for everyone in the long run than if I put the same info out here - most of the little guys who would fund that may have bought their own house before but that would be the limit of their real estate experience for the most part.I think the individual investors would be looking at smaller return in exchange for their cash along with the idea of doing something worthwhile - $2,000 invested for a cause they believe in @ 3-4% versus a CD at the bank on a number of levels.

Congrats on the deals, @Dave Savage and thanks for upgrading to BiggerPockets PRO.

Also could be offered as an upgrade to the sales or rental contract if wanted. 

If you can't walk through and estimate repair/upgrade costs realistically, take along someone who can.

I would not be surprised if after closing costs and upgrades to the current property, you would be out over $22,000 or $23,000.I would try to beat him up on the price.

The house that I'm living in could use about $10-15k of cosmetic upgrades (bathrooms being the main expense) so I plan on saving for that before saving for my next downpayment.

With your background you should have lots of folks wanting to network with you to remodel new purchases or upgrade existing rentals.

The house came with some nice features:- Furnace was a newer high-efficiency (about 7 years old)- Stove and refrigerator included- Master bedroom had skylight and vaulted ceiling- A significant portion of the plumbing in the house had already been replaced/upgraded- Vinyl windows throughout- 2.5 car garage with openerWork that I did to rehab it:- Painted the living room, hallway, second bedroom, and kitchen- Replaced the kitchen floor with ceramic tile- Replaced the basement windows with glass block- Re-sided the garage- Put a new door on the garageAnd some other cosmetic fixes.The tenants just moved in this past weekend and they love the house so far.

We are also doing the numbers on how much cost is added with a basement, and may perhaps make this an optional upgrade for pre-solds.