The cost to furnish a house is death by a thousand cuts.

Agreed the odds of them wanting to resign after the renovations that would substantially increase the rent is low. 

Check past home values and rental rates using sites like Zillow and Realtor.com or local house market reports.

I would send every ugly house someone's way of they send me their ugly mobile home and RV my way. 

Example: Tenant experiences a loss due to some house issue.

I'll preface by stating I am a complete newbie to real estate, however I have followed BP for about 10 years now.Option #1: House hacking I am currently unemployed, but have a chunk of savings for a downpayment (roughly 50k) if I decide to go the route of house hacking.

The house has sat abandoned for many, many years.

They pay the rent on time, every time, don't damage the house and don't cause any problems.

If you are new, you should think about house hacking, if that works for you, as your first attempt.

This deal highlighted our strategy of cost-effective renovations, quick execution, and efficient project management.