I did a full rehab on an 800sq ft house 8 years ago and did too much of the work my self (electrical, plumbing, windows, flooring, floor joists.)The home has a basement under most and part is a crawl space.  

For a rehab loan, generally the minimum is $100k (including a % of the purchase price and rehab funds).

It is important that you control your funds and do not let he contractor get out ahead of you or you will be left with a overpriced unfinished rehab to salvage. 

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000

Cash invested: $18,000

This is my first buy and hold property. Purchased for 90k. I don't consider it a ho...

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000

Cash invested: $18,000

This is my first buy and hold property. Original asking price of 110,000, I purchase...

Do you know how to determine reno cost?

Also, you are typically allowed 2% from seller concessions from your lender, and potentially even more, which can help with closing costs.

Here are the key considerations:Pros:Potential for Profit - Through the value add component you can increase profitability on your return, typically you're buying distressed homes with built in equity, rehabbing and increasing your equitable position furthermore. 

We will renovate the fix up the first floor additional dwelling and plan to rent it out as a STR for the rest of 1st year to maximize the return of our renovation expense against our W2 taxes via the Cost Seg / Bonus Depreciation.

Get a thorough inspection to identify necessary repairs and calculate potential rental income versus costs.