Working on my first property and currently have one under contract. The inspection revealed some things I didnt notice the severity of at first. I think the property still has potential just at a reduced rate. I expect the ARV to be somewhere in the range of 100k I currently have it for 70K but believe it will need about 40K in work and intend on reducing my offer to somewhere in the range of 30-40k. I believe after these renovations the property will get $1500 a month in gross rents based on other units in the area. I believe the current owner likely just wants it gone and may consider a lower offer, the property has been vacant for years. Below is a table with my expected expenses, I intend on completing all the work myself other than the electrical panel and the asbestos flooring abatement. The property is right across the street from a college making it a great place to be for steady tenants. The area surrounding overall is good. I have also attached a link to some pictures I have taken of the property to help better paint the picture of the condition the property is in.


|Asbestos tile abatement|$5000|

|LVP flooring install|$2400|

|New kitchen Appliances both units|$4000|

|HVAC replacement|$3000|

|Water heater replacement|$1000|

|200A electrical panel install|$3500|

|kitchen remodel both units|$3000|

|Concrete patio removal |$2000|

|repair rot back wall houser|$2500|

|Bathroom remodel/ both|$5000|


|Paint whole house|$500|