When the seller tried to create an auction atmosphere by “accepting” six offers at once, we countered with current quotes for the required sewer tie-in and electrical repairs, held firm on price, and won a seller credit that covered most of the work.

Here's the sequence we typically follow:​🏗️ Interior Rehab SequencePre-Closing PreparationScope of Work: Conduct a thorough walkthrough to identify structural issues, outdated systems, and cosmetic updates needed.Budgeting: Develop a detailed budget, including a contingency for unforeseen expenses.Permits: Obtain necessary permits to avoid delays.​DemolitionSelective Removal: Remove outdated or damaged materials while preserving elements that can be reused.Site Preparation: Ensure the site is clean and safe for the upcoming work.​Structural Repairs & FramingFoundation & Framing: Address any foundational issues and modify framing as needed for new layouts.Inspections: Schedule inspections to ensure compliance with building codes.​Mechanical, Electrical, and Plumbing (MEP) Rough-InsSystems Installation: Install or update HVAC, electrical wiring, and plumbing systems.Inspections: Conduct rough-in inspections before proceeding.​Insulation & DrywallInsulation: Install insulation to meet energy codes and improve efficiency.Drywall: Hang, tape, and finish drywall, preparing surfaces for painting.​Interior FinishesPainting: Apply primer and paint to walls and ceilings.Flooring: Install flooring materials, ensuring they are protected during subsequent work.Trim & Millwork: Add baseboards, crown molding, and other decorative elements.​Cabinetry & FixturesCabinets: Install kitchen and bathroom cabinets.Fixtures: Mount sinks, faucets, lighting fixtures, and hardware.​Appliances & Final TouchesAppliances: Install kitchen appliances and test for proper operation.Final Inspection: Conduct a thorough walkthrough to address any punch list items.​⏱️ Timeline & Efficiency TipsProject Duration: Aim for a 3–4 month timeline, adjusting based on project scope.Scheduling: Use project management tools to coordinate trades and avoid downtime.Communication: Maintain clear communication with contractors and suppliers to ensure timely deliveries and work completion.​📋 Tools & ResourcesProject Management: Utilize software like Trello or Asana to track progress and tasks.Checklists: Develop standardized checklists for each phase to ensure consistency across projects.Budget Tracking: Use spreadsheets or financial software to monitor expenses and stay within budget.​

@Jaycee Greene, i realize the appraisers should be making a differential but on small multifamily 2-4 family in Worcester, MA in particular, if the roof is 25 years old or 1 year old they dont make an allowance, if the electrical is from 1930 or from 2020 they don't make an allowance, if the plumbing is cast iron with copper, vs PVC and PEX they don't account for that. 

We can do easy fixer upper’s but nothing crazy like electricals.

Now what is holding things up are the contractors insurance, electrical license and pluming license renewal which all expires in April from what the city told me.

Quote from @Daniel Kokodoko: Hi BP community,this Brandon, FL (Tampa suburb) deal practically fell on my lap, and I’d love to get a sanity check from experienced investors here — especially around risks I might be overlooking.The propertyZip code: 33510, Brandon, FL Type: 4 bed / 2 bath single-familyCondition: Needs full renovation (roof, windows, flooring, kitchen, bath, electrical, etc.)The numbers:Purchase Price: $100,000 (off-market, cash)Renovation: ~$100,000Total In: $200,000ARV: ~$330,000Refi: $200,000 @ 7% interest-only (after a year)Rent: ~$2,200/mo with 2% annual increase or flatExpenses: ~$8,500/year, growing at 2%    Insurance: ~1900 per year    Property tax: ~3000 per year   Other expenses: ~3600 per yearHold Period: 7 yearsExit Strategy: sell and 1031 Exchange.I'm closing on June 20th, and anticipate renovations to take 2 months or so.

Get an electrician out to get a quote to replace the panel and also have them look for any other potential electrical issues seeing as the electrical is obviously dated there.

.🚩 Owes unpaid electricity ✅ I hold security deposit.🚩 MRVP will not pay July unless I sign extension.🚩 If no action, tenant becomes holdover on July 1.🚩 I work full-time + have 2 small kids — I cannot afford 3–4 months rent loss or legal delays.My Questions:1️⃣ Is it better to serve Notice to Quit July 1 and regain control?

The most frequent and expensive issues include failing septic systems, outdated electrical infrastructure (especially 30-amp service that can’t support modern RVs), and inconsistent water pressure.

I have a tenant in my single-family home who has recently purchased an electric vehicle.