This is a solid house in Marine Villa with 3 bedroom and an incredible 1680 square feet that needs some repairs but, mostly cosmetic. Great opportunity for turnkey providers, buy and holders, and lease-to-own operators. House was last rented in June for $950/month by an out-of-country owner who is liquidating their stateside portfolio. Please see the Rent-O-Meter Pro report for this house at https://www.rentometer.com/shared/HGLSOHQHIKgyicL-hu7h-Q which shows these rents are legit, if not low. The house has vinyl windows, but a couple will need to be replaced.
If you gave me $12,000 to spend on this house, here is what I would do.
1. Replace exterior doors and a couple windows
2. Paint inside
3. Replace floors with VLP in places where needed
4. Other small fixes drywall patching, awnings, replace shutter on front, tiles as needed, etc
Then prioritize the following
5. Replace drop ceiling upstairs with drywall ceiling
6 Paint exterior
The best investments have multiple exit points. So, ignoring the fact that this house could sell retail for above the purchase and repairs cost, here is how you get the real value. Hold on to this house for a year-over-year 21.65% net ROI, or sell it turnkey to your turnkey investors and put an additional $28,000 in your pocket for an 80.38% ROI, while your investors love you for their 12% ROI. Win and win. Here is the math,