Ours is set up as 16 individual furnished rooms with their own private baths.  8 rooms on each floor share a common fully equipped kitchen, TV area, sitting area, dining area and 2 laundry rooms on each end.

It discussed estimating repairs, they gave us their price sheet for estimating repairs (with specific numbers to use for windows, floors, paint interior and exterior, roof, AC/Heat, Kitchen, Bath, landscaping, etc.), it went over hiring and dealing with contractors in a professional rehab with timelines and change orders, they discussed obtaining private money, hard money, etc, they talked about different ways of finding properties to buy, they talked about having exit strategies in place in the case that it wouldn't sell, having a project manager....that's all I can think of right now.

Hi BPmy project is moving along smoothly, we are half way donethis house is located in a very desirable northern suburb of Pittsburgh.the school is great. conveniently located near "shopping", on the commuter line for pittsburgh. no more new construction. middle income, family friendly community.the projected return is tight b/c this is first time in this market and I think I Comped it wrong. a few street away makes a huge difference b/c of lot sizes.it's total upgrade, open layout, reconfigure kitchen, upgrade baths, all new windows.

He has a partially finished basement (possibility for kitchen) that has a 1 bedroom, living room and brand new bath that he doesn't utilize towards his other rental unit.

We took some money out of our 401k remodeled the kitchen (gut job), resurfaced the hard wood floors, and painted all the rooms.

I normally would just do a general estimate based on sq footage, work needed to be done (ex. kitchen needs tiling), and basic knowledge but this is different.

That would have been fine, but just doing that wouldn't have worked, according to 2 lenders I talked to, to justify increase in purchase price.I considered doing a very minor amount of work- just painting the house, putting new floor in kitchen or swapping out existing countertop for cheap granite- something like that.

You can get a job in a commercial office, someone needs to make coffee, go out and put up 4x8 foot signs, sweep the floor, deliver documents and, they get to BS in the office kitchen with the agents, but you won't be one of them unless you pay your dues, payable over years, not months. 

The kitchen is a 14'6" by 9'6" area.

I imagine he's talking about part timers who wouldn't benefit from the extra complexity of business entities.