I recommend teaching him basic construction and property inspection (4-point items); 'lipstick on a pig' can kill an investment and reputation faster than anything in this business.Best...

For example - you're starting a $100,000 remodel on a propoerty that you have acquired, the Scope Of Work includes basic lipstick stuff like a kitchen remodel, a bath remodel, and new flooring and paint.I would start with a draw of no more than $10k, that is more than enough to get anyone going and it shows your good faith.

Another expression for this is "lipstick on a pig."

The lipstick renovations simply don't pencil.  

Examples of pitfalls include purchasing in an undesirable area, not understanding the market values (vs. list prices), not knowing the rental values (current and market), inheriting bad tenants, buying a lemon, going rogue on renting and management with no contacts / systems / no legal understanding of PA and Municipal landlord-tenant laws, not having trusted resources and contractors in place, using out of state lenders or shaky financing, throwing lipstick on a pig when renovating a house and wondering why it's ARV isn't increasing, tenants are renting, etc.

   $100k would be tight.A 3/2 -- 3/2 no walls moved;   $90k is possibleA rental rehab;  lipstick, no HVAC or roof, keep everything, paint kitchen cabs and scrub up bathrooms. 

Another expression for this is "lipstick on a pig."

It was definitely a "fix and flipper" lipstick job. 

This is a lipstick + flip.New floors, paint kitchen counters, cabinet faces, new bath, install central airWhat was the outcome?

Another expression for this is "lipstick on a pig."