However, my next deal, I added a commercial mortgage broker to my team and he now goes and gets a bunch of quotes for me.It's always good to get things set up prior to looking for deals, as you can be a bit more confident on what you can go after and if you are given the "green light" from the lender.Yes, I raise money from those in my network who just want to passively invest and those who trust me to not only get a solid return, but to protect and multiply their capital.

The interior renovations consist of: Installing vinyl plank floors in living room instead of carpetInstalling pulls and knobs on the kitchen cabinetsResurfacing the kitchen counters to have a faux granite lookBacksplash in kitchen with new kitchen faucetRepainting the apartments from a cream color to gray on the walls with white on baseboardsUpdating other items as needed like lights, fans, appliances etc.How Value of Property has Increased.As I mentioned above, rents were below market so with the interior and exterior improvements we’ve been able to increase rents when each lease turns.

Regarding passing on a better opportunity I'll quote Zig Zigglar who once said  "If you wait until all the lights are green before you leave home, you'll never get started on your trip to the top."    

I received an offer to purchase this from an agent/friend of mine who was working directly with a trust manager who wanted to sell the property asapRenovation: Full remodel as well as light structural changes & repairs.

We have noticed a lot of people are switching to LED lighting and are improving their walls R-Value.

@Cynthia ElderTrimming kind of light, I’d audit repairs expense, management expense(even if you are self managing, for long term), and also cap ex.

There is a HUGE market at 320k with a light rehab.

They maintain the lawns, (not just mowing and snow removal,  but replace dead plants or trees as needed)  the common parking areas,  common inside areas,  pay for electricity to light the outsides,  one condo has elevators so they maintain those,  stairwells,  anything up to your wall and all common areas.  

This has definitely been a rollercoaster, and I've been ready to pull the plug several times, but then new, favorable information would come to light and the plug stayed put :) I was very fortunate to pick up a partner with multi-family experience who is serving as an advisor and mentor, and he has been awesome.  

I would buy a lightly distressed(just needing paint, flooring, cabinets, etc) duplex in a good neighborhood in the Midwest for $50-80k.