There are important precautions that need to be taken when doing any renovation that disturbs six square feet or more of interior painted surfaces or 20 square feet of exterior painted surfaces.

It is not uncommon for a property leveraged at 70-80% LTV to provide 15-20% return on your equity in the property just as a free and clear property on the surface may provide "great cash flow" however your return on equity could easily be in the single digits.

Evidence of a tenant's disturbance of painted surfaces containing lead paint also shall be admissible evidence.

NOTE:  bleach/water combo will only wash away the surface discoloration. 

It helps me put things into an orderly fashion for him so he gets something comprehensible and can concentrate on doing the taxes instead of trying to figure out what a "shoe box of paperwork and receipts" are all about.

When that discussion publicly and regularly surfaces, and the PHX market starts to take a hit, Sedona will be even more desirable, as we are cooler and have a 500+ year supply of clean/clear water. 

You would describe it as "Landmark #D-123-36 ceramic tile. 8" x 1/4" x 36" - light brown oak.For paint you would pick your color and provide a sample and say "Home Depot Paint Item number #799-02-3645 and list whether the walls have to be stripped of wall paper (if any) holes filled with mud, surface sanded to smooth, stains covered with Kilz if previously stained, 1 layer of primer and 2 layers of paint with all edges having a crisp appearance.People can spend a lot of time on sheetrocking, mud & tape just to make the wall look good enough for painting if the wall isn't going to be covered with texture.

On the surface, it looks like a gain. 

Also how important is it that you get it in an organized fashion vs. free?

Purchase Price: $420,000Down Payment + Closing Costs: $98,000Repair Cost: ~$50,000ARV: $570,000Forced Appreciation: $100,000Deal: $420,000Comp 1: $545,000Comp 2: $620,000Comp 3: $580,000This was just a on-the-surface deal analysis and I was wondering if I was doing it correctly.