I keep forgetting how small this place actually is. I read a bit more of the flipper’s post in the investor forum. It looks like they were able to get the laminate flooring and carpet done for $3,000. But it also looks like they had a huge mold and asbestos problem (with the flipper inhaling some asbestos unknowningly during the initial heady days of ‘let’s try to do it ourselves’.)
let’s just give this flipper the benefit of doubt and go with the $50,000 estimate. which would translate to roughly $20,000 after tax, if they manage to sell for $565,000.
