Asking Price: 260,000ARV: 240,000Offer Price: 210,000 20 % down on 30 yr fix 4.125% conventional loanClosing Cost: 10,000Target total cost: 220,000Monthly P&I Payment: 1,800 - 2,000Annual Tax: 9,275 Potential get down to 7000 - 8000 Rental Income: 2100 - 2400 Potential 3500 if sublet by roomPotential cash flow 600 - 1200 monthlyRenovation budget: 20,000 (needs kitchen)Features: 6 Parking SpotFinished AtticFirst floor office space2nd floor 4 BRNear Train station to NYCIs there any other thing I need to add and what do you guys think?

It is flooring time again in a duplex I own I was quoted $1750 for a 114 sq yds of commercial grade carpet.

Also Mindy Me even mentioning $369 was irrelevant, really $329 is conservative as this will be 4 bed 2 bat 1750 Sq feet.  10 doors down(not adjacent to highway though)  A 1 story 2 bed 1 bath 1300 sq ft home with identical first floor plan just sold for $299K and there are many more comps to support. 

What if this is a first floor of a multistory building?

I stayed in my rented apartment for another month until I had fixed all the essential appliances, painted and put down new flooring. it was a mild inconvenience for the extra 60,000 in instant equity i had one year later. 

Most leads are from your own doing or what you can get from your office (floor time).It's a tough biz, especially part time, but it can be done. 

Your going to want to look at the floors above, and obvious sloping of the floors. 

Floor joists in the bathroom need to be repaired due to extended water leaks that have caused the joists to rot.It needs a new roof and POSSIBLY some updated electrical work.AGAIN, I stress I will look at the home tomorrow so everything I am sharing is "heresy," which of course the bank would then look at and then consider whether or not it meets their livability standards for the purposes of a loan.

A STANDARD FHA loan, would not be available on a home that needs a new roof, ($10-$13k cost for replacement), new flooring because the floor has issues ($8k), new appliances ($3k) and a new A/c ($6k) .So the bank finances the home, sets a $30k escrow account associated, and you take care of the major components that would normally stall any other FHA buyer or be a hindrance in any other home inspections.

Categories like Exterior Interior Windows Doors Flooring Electrical ECT....