We don't have to make 30k in profit because we're planning on holding it for 2-4 years while we live in it.We're on a 203k loan (and we've talked to the listing agent and mortgage broker and both feel we can get the loan done before the sellers bank demands closing) and a 203k wants licensed contractors to do most of the work.So without further ado:Repairs Number of units CostDrywall repair 25/patch x 5 500Tiling in Kitchen 7/sq ft x 84 650Refrigerator 1 2500Dishwasher 1 500Granite counter tops 60/sq ft x 54 3200Oven 1 600Paving the driveway 75/# of square yards 2500Updating 2 bathrooms 2 2000New fencing 200 lin feet 1500New Carpet 400 sq ft 1500OR Hardwood floors 400 sq ft 3000Dumpster 1x2 500Landscaping 3 yards 1000Opening front porch windows300/window x 3 900stone walkway .05 x 5616 sq in 310Paint interior 1800 sq ft 500Labor .5 of total cost 10000 30160Offer on House 45000Rehab amount 30000Total loan amount – down payment 72375Closing costs 4300Down payment loan 2625Upfront Cash needed 6925Monthly payment ~550/monthDo those numbers look anything close to realistic?

Bill Gulley is right have some deep pockets for the rainy days: vacancies , repairs and I even hate to say Court.

I don't care for AAA unless you're a car club or a car repair shop.

I know there are some HOA with other hidden language in their docs that can give them addition rights in these areas, but I read the HOA docs and there are no other areas that I see deal with repairs of this nature.

Tenants who walk out on the property and/or cause a lot of repairs will cost you a ton.

Electrical, HVAC, plumbing, roofing, flooring, drywall/plaster repair?

So if i can locate a house that after repairs is worth 65,000.

Might look to "closing requirements" too, read "purchase agreements and contracts"If your property needs repairs, check the "contractors and rehab" sections.

Let them leave, then do the repairs and cleaning then start showing it in earnest.I don't get too agressive about timing.

It will need repairs that even experienced people will miss.