This property was a "Buy and Hold" investment. It was deteriorated 2 bedroom 2 bathroom, one-story single family home and fully remodeled to a beautiful, very spacious 2-story house. After remodeling it became a 3 bedroom 3.25 bathroom main house with a guest house including a full bathroom.
The owner had used as a primary resident for two years, then the house was turned into a luxury vacation rental, which made $2,500 per night. After holding as a great income property, it was sold for $3,700,000.
This is a classic example of a quick flip is not the answer if you look for high returns.
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