I just finished my first one...well the remodel is done anyway, now I just need to sell it :D

My partner and I were going to look at a small bathroom remodel one day when we drove by this house.  

All units need interior remodeling/components: flooring, kitchen, baths, paint....likely about $25,000 per unit to have a finished product.

Downstairs has the old woodwork that is in great condition, remodeled bathroom, new laundry room, and some new flooring.After 60 days the price dropped to $79,900.

The other is right on track to close this week.The unit had recently been remodeled and was empty when we saw it.

So if this investor didn't pay a wholesale fee, maybe his repair costs were 3K more than I have suggested, just move that number to cost of repairs, lender fees, interests or another expense I have not included below.Costs to Buy:$3,000      Wholesale fee$440        Title and recording fees$300        Inspection$63K        Cost of repairs (remodel, Sewer lines, roofs and mechanical)$1275     Holding costs for 3 months (Property Taxes, insurance, utilities, not counting cost                 of cash if they had a loan)$6530      Selling cost (Broker fees, Title escrow fees, Staging fees)Every investor should have a deal analyzer spread sheet that they use to evaluate each deal, just plug in your purchase price, ARV and your costs. 

We purchased a 1920 Farmhouse but opened the walls and found an 1823 log cabin instead.The project is not a for profit venture as I am doing the remodel for a close friend (lucky girl) but we'll dip our toe into the financial analysis of it at some point as I know there are curious minds like mine out there.

I won't go through the entire process, but my remodel did not add square footage, as I'm not comfortable doing that by myself.  

I am also willing to scrub toilets and paint walls as long as you are willing to teach me :)!

She was emptying the tub with a bucket into the toilet I would say every other shower time.