The house is in very good condition, it needs new flooring throughout, complete kitchen and bath remodel, the two smaller bedrooms are getting new closets (currently no closets in them, so I guess they aren't technically bedrooms), a little work in the basement (it's somewhat finished and I just want to spruce it up), new windows, new entry doors, and a new concrete pad in the garage. 

I will be meeting my contractor later in the month.Purchase price : $15,000 (county assessed $26,880)New roof : $6,000Pier and beam foundation repair : $4,000Outside painting : $2,500Inside painting : $1,500Inside mold removal : $ 2,500Refinish hardwood floors : $1,000 New kitchen cabinets : $3,500Rewiring : $3,500Landscaping : $300Plumbing : $3,500Kitchen appliances : $500Total renovation : $28,300All in =$43,300Sale : $72,000Profit=$28,700 divided between me and my investor =$14,350 profit for me.So what do you think?

Your first deal is an important one, establish your investor criteria and be firm, this is not your forever home so listen to the investor angel on your shoulder that loves the numbers, not the other voice on the other shoulder that loves the kitchen and is willing to pay a premium.  

I advise any window that is in the kitchen you cover yourself with something permanent , least they come up with something inappropriately likely to catch fire...  

I also will probably have to do some updating to kitchens and bathrooms in two of the units down the line, but I am handy enough to do them myself.

Brand new kitchen, Cherry Cabinets, granite, two full baths with granite, separate laundry room, two floors, master bed has 3 closets, living room, family room, separate dining area with direct access to a huge deck, one side of a very large garage, private yard and the town has every amenity you could want and also only a 40 min commute to downtown Boston, MA. 

What was found is that one of the unit's furnace isn't functioning, and that the kitchen sink has an obvious leak. 

Well, since passing the exam I have been wooed by brokers, promising everything but the kitchen sink to get me to work for them.

Your friend is a commercial project manager, he knows commercial construction,  probably not kitchens and baths and small mechanicals.    

Just wanted to get some feedback on a potential investment I was looking atFacts: 2 family (4br + 4br) / students / Always rented / 2500 sf of living space, house is in very good condition a great deal of remodeling has occurred in recent years, new kitchens, bathroomsGross rents $3680.00Expenses: taxes (currently $4360.00 + Insurance, water, maint, misc (total $950.00)NOI: $ $32,760.00Debt Service ($176,00 @ 4.25% - 30yrs) $866 / monthly ($10,392.00 / yrly)Net Income $1864.00 / monthly - ($22368.00 / yrly)Cash  invested: $44.000  down + $5,000 closing - $7200 Security deposits = $41,800.00Cash on Cash Return" $22,368 NI / $41,800 cash invested = 54%Gross Rent Multipler ($222,000 / $44,160) = 5.0Cap Rate ($32,760 NOI / $222,000) = 14.9These numbers were provided by the current property owner, I hoping for such insights that I might not be considering, any concerns.Thank you all for any insights, thoughts or concerns.