How much do I put into my rehab?

[Gavin DeHaai]

Hey BP family, 

I just closed on my first single family rental with duplex potential, I need some advice on how "nice" updated to make it knowing that tannates are probably going to use and abuse it. Does anyone have an general ideas/rules they follow on how nice to make it for renters? This is my first deal so trying to manage costs as well! 

thanks a ton!

[Ryan Husser]

@Gavin DeHaai I have not honestly. It is tough because a rehab could be paint and carpet and cosmetics and be like $10k or whatever. On the flip side you could need a new roof or have foundation issues and now it is $60k-70k. So it is not as cut and dry as the 1% rule for example. I would say with your bids and quotes stay within 5-10% of their proposed budget when all is said and done. Rehabs are very case by case, but if you find a 'general rule' please send it my way as I am always looking for new methods and ideas!