Now its time for numbers and pictures.Purchase Price: $79,200Front House: 3 bed, 1 3/4 bath- old rent: $700/yard maintenance and snow removal- new rent: $800/yard maintenance and snow removal- repairs: $300Back House: 2 Bedroom, 1 bath- old rent: $500- new rent: $775- Repairs: $8863 (new bathroom, some plumbing, electrical, all doors, wall repair/paint, kitchen counter top/sink/faucet, refinish floors, blinds, and many other small itemsGarage:- old rent: $0- new rent: $100So I was scared going into this, but after collecting the first full months rent, I'm all smiles. 

If a basic kitchen job (think 6 recessed cans, homerun for appliances as needed, 3-4 light switches, pendants and switches for over sink and island, and a few backsplash and island plugs) cost $3500 from your electrician on one job, then 3 jobs later a very similar scope he hits you with a $6000 charge... that would have me questioning it.

He was more inclined to put me in an up and coming area for a property in the range of 400k-500k, which would sink me for a few years.

I don't think this is the best area to sink all of your money, but I did find that these rehabs were relatively painless for a first time investor.

That's more palatable but assumes you have to sink money into it AND you're getting top rent every year. 

Hello all,I am brand new to investing and have been reading and listening to books and podcasts say that you need to go out and look at houses and talk to people to learn your market. I was wondering, do you only appr...

.-  After the shower and granite is done, you'll need to install sink and fixtures. 

If you find yourself in need of expertise in "commercial lending that we're going to shove into residential because terms/conditions/rates are way better," where guidelines trump logic, let me know how I can help.I've stolen business from folks on your side, for example, by having them put the 5th unit's oven/fridge/sink hook-ups under sheetrock and calling it a residential 4-unit. muahahahaha. 

That included materials, painting, and labor for trim and interior doors, plumbing rough in materials and labor to make a half bath into full bath, drywalling and finishing the other bath with some small plumbing updates, installing laminate floor, retexturing and painting ceiling, installing kitchen cabinets/countertop/sink, and some other small things.Me and my hourly labor friend did all the full house wall painting, demo, lighting install, faucets, door handles, landscaping, changing out all plugs and switches to white color, tile and backsplash, and a long list of other small things.

I'd personally rather know about the drip before it gets to mold or a line breaking in the night right away than a tenant in fear of being charged X amount for someone to come out and swap out a new line under their sink.