I suggest you hire someone locally to get the information you want.

I've owned student housing in the past. My suggestion is that you run away as fast as possible.

9.7M. Or, double the price you paid for the building, whichever is more.

Bad pictures, no location given , and an owner without a clue as to what remodel costs or ongoing maintenance costs, really do not make for a wise investment unless you need a tax write off for a big loss.

There is no way anyone could give you an estimate of pricing as we really can’t tell what the scope of this project is. Electrical? Plumbing? Heating/cooling system? Insulation?

You have what appears to be three 6 bedroom, 3 bath apartments. (Which in my opinion is just asking for trouble.) that do clearly need some renovation. Have they all been occupied recently? It doesn’t look it.

Is this your first foray into landlording? My best suggestion is to go MrLandlord.com and ask your questions there. They’ve got some amazing landlords on there with tons of varied experiences. They can guide you on all sorts of ins and outs of finding and getting tenants along with rehabbing/renovating your buildings and how to tenant proof the building. If you are doing college rentals tenant proofing is extremely important. As are your processes for screening tenants and getting the money.

My advice is "Get thee to an architect!" (apologies to Wm. Shakespeare.)

Shaadi-

Yikes! Your first project? I've been remodeling various places for 40 years and that one would give me pause. If you've never done this before, you are wise to bail out on this project. It would be a huge challenge, frustration, and money pit.

@kudzu9 ahahaha!! thanks for your comment and advice !!

@kudzu9 @User@mainenell @graywings123@Charles Ross Homes -- So there is this other property, https://www.houzz.com/discussions/5823342/contractor-for-fixing-and-cost its a single family.. which i know is in a good township.. Could you please give your thoughts.. Much appreciated! thanks again.

Hi, Nida,

Cost vary regionally. I recommend you contact local remodelers to get an estimate of the cost to make the changes you would like to make.

Best wishes for a successful project.

Remodeling for profit has many perils. If someone does not have the personal skills to contribute a large dose of sweat equity to the project, then they most likely will lose money. The key to any “flip” is to get the mostly cosmetic changes needed property for a very low price up front. Then those cosmetic changes are mostly accomplished with your own two hands. That can be difficult if you have a day job. But paid labor is the biggest component of any project, and if you have to resort to that for all of the work, you can not make good money doing a renovation. You end up upside down by the time that is paid and the carrying costs are calculated.

I second what The Cook’s Kitchen says. Flipping is a niche that requires you to find cheap labor and do mostly cosmetic changes. With cheap materials. Ripping that kitchen out and putting in stock cabinets from Home Depot will not improve its value.

Getting one of my rentals ready for sale brought to mind that I could never be a flipper. I pay too much attention to the details and want things to be done right. Those things don’t make for profitable flipping, which it looks like you want to do.