The property was purchased for $295,000 and upgraded with $182,807 in improvements before selling for $574,900.

The property was purchased for $140,000, improved with $62,142 in upgrades, and sold for $250,000.

@Jordan Esco - I would do your best to get 2-3 contractors there to walk the property with you and give you high-level estimates.

Mid-renovation is a different animal, but we've done many of them.

For tax purposes, the IRS considers the average stay across the entire multifamily property, not just the short-term rental unit.

I’m in the early stages of my real estate journey and joined Bigger Pockets to connect with other investors, learn from people with more experience, and surround myself with individuals who are actively growing in this space.My background is in renovations, and I run Precise Home Renovations LLC, which has given me a strong understanding of construction, materials, budgeting, and project management.

Sharing a recent scenario that I think other investors might find useful — especially anyone who’s self-employed or juggling multiple income streams.A homeowner needed to pull cash from their primary residence to renovate their second home, but traditional full-documentation guidelines were pushing the DTI too high to qualify.

They will pay cash or use private $ to acquire and renovate.

That is a place where you can meet local investors.You can also contact local turnkey companies that could buy the property, renovate it, and sell it to an end buyer. 

Mid-renovation projects are only good if you are getting them at a crazy low price.