Purchased tenanted but requiring refurbishment when vacant.

Current figures:
Purchase Price (mortgaged): £60000
Monthly Rent: £400
Monthly costs (mortgage, insurance) £154
Monthly cash flow: £246
Deposit/ fees £17800
Current return on investment: £16.5%

Figures after refurbishment
Estimate spend: £9000
Estimated Fees: £1600
Total spend: £70600
Estimated end value £80,000

Money back from remortgage = £60000
Money left in deal: £9400

Monthly Rent Once refurbished : £500
Monthly costs (mortgage, management, insurance) £246
Monthly cash flow: £254

Return on investment: 32.4%