You may or may not have heard of the 70% rule, which means that (as a general rule), the ARV (after repair value) of the home x 70% (.7) - costs of renovations/upgrading = the most your buyer (investor) should be paying for the property.

I too am currently upgrading a home in Highlands Ranch putting a lot into improvement hoping for some equity. 

It includes the management fee and all these other misc repairs each month such as plumbing, broken locks you name it.

I a planning on having to replace all plumbing with pex, toilets, and hot water heaters. also needs flooring and other standard basic cosmetic upgrades.

Hi all,I am new here at BP, just finished reading Brandon Turner's "7 years" book, and am super interested now to sell my duplex in CA and buy an apartment complex in a much cheaper market for greater cash flow. Any a...

I own a SFH in Broken Arrow, OK and when I purchased it the inspector noted some standing water under the house but no damage had been caused by it so it seemed not to be a longstanding issue.  

Im really not looking for a huge cashflow per say Im looking at them in the sense that if I can have them payed off in 15-20 years and have the rents cover the entire house in 15-20 years I can collect the rent free and clear for the most part (my half in this case) or build up enough equity in the first rental property to borrow against any appreciation or increased value from repairs and upgrades to purchase another similar property.In the long run I'd like to be in florida collecting 5-6k of rent in addition to any money I would be making down here and maybe start investing down here as well.

Highly recommend upgrading your account if you're serious.That's my two cents

@Sarah McCoy Welcome.I agree with Nick above: Owner occupy a 3 familly and upgrade the unit you're in.

If so, get your handiman or whomever to give them a quote and let them pay to upgrade your unit!