Basic Stainless Steel Appliance Package: $2,500 (frig, stove/oven combo, vent hood, dishwasher, with labor to install - we do not include microwave)New Roof: $4,000 (new tin roof - prices vary greatly depending on # of squares area on the roof)New Carpet: $2,000 (includes new pad with aprox. carpeted area of about 1000 sq. ft.)Bathroom Remodel: $2,500 (new ceramic tile shower stall, new ceramic tile flooring, new vanity, mirror, light fixtures, sink, and faucet fixture)Paint Interior: $3,000 (includes painting and some general drywall/finishing prep work)New Vinyl Siding: $3,500 (covering existing cladding with vinyl siding)Paint Exterior: $2,000 (2 coats of exterior paint, minimal prep work)All of these are VERY basic estimates based on a house with 1400 square feet of total interior space.

I would just make sure that the $/sf estimates take into account all possible costs plus some extra cushion to account for overruns, delays, changes in market, etc.

Good quality tenants take care of the property so most there are minimal repairs.

This will cause a delay of course, but it's a solid property in a great area.

@David Beard :I investigated renting initially and came to the conclusion you mentioned - NYC just doesn't seem like a good market for renting unless your initial investment is huge.Critical for me is a proper understanding or risk involved Private Lending and ways to minimize it.

As it stands it would take a few years using the cash flow from the property + cash flow from my job which would delay my ability to save up for my next down payment on another property.

There are some simple things you could do to minimize the loss of good potential applicants, but you've done most of the 'heavy lifting' by defining your screening process and asking the right questions prior to your applicant submitting the showing scheduling form.

Hey guys - sorry for such a long delay!

Or there's some issue and the bank needs to delay the auction to sort those out.

Frank goes to Enrique (a transactional lender) for an extended/delayed transactional funding.