Maintenance and Repairs - 2013 YTD = $4168 which included a bathroom remodel and new flooring in Unit # 3Property Management - still in negotiation but thoughts on a whats standard out there for mutli-units?

We also, and this may sound excessive, did a major remodel together to see how we liked working together that closely.

I looked over the pictures and the remodel looks wonderful.

I just hate the thought of you getting in over your head due to the inexperience.Better yet, do some remodeling on your own house for 1st...crawl before you walk. :)

At that point, you can put it under contract and so that contract to another investor who will buy it, which is called wholesaling.Or, you could use a private money or hard money loan to buy it and remodel it and flip it, though I don't recommend starting with that with no money.Good luck!

I was first contacted to be a contributor to this forum years ago.I'm a former building & remodeling contractor 18 years (carpenter 30+)...I've also done some home building and real estate investing.

Chris Connor here from [edited ] been in the kitchen and bath remodeling industry for over 20 years.

That said I am confident that we can purchase the places and remodel them and have the 25% equity needed for the refinance and pay off of the private lenders and the properties will cash flow or we would not keep them.

She thought that would be great and wants me to help her if I can.I confimed:She owes $205K to CitiMortgageARV = $170k-$180K (totally remodeled home right next door just sold for $180k)Repairs = $25k-$30kI need to buy it for about $100k and give her a couple grand walking money.So how would you approach this situation?

That is why you don't need additional projects with your first property such as remodeling and other responsibilities.