Buying a House to Live in and fix up - What should I focus on 1st

[John McAllister]

So I am buying a home to live in and Rehab. My current home I will rent out [Have FHA loan]

This new home is on a USDA loan.

It......Very exciting that you can, in fact, have BOTH LOAN packs.......

I have about 15-20k budgeted rehab for a new home to move in. 

I will do the Roof, then demo and replace a few walls, Paint, update a few appliances, and then move in [as seen in the schedule below]; from there, I will live in and fix-up. 

My concern or question is how do I know if I need new plumbing & Electrical?

I don't want to do new work and then find out that I have to rip out new work to repair old. 

Also, let me know any feedback? This is my first rehab; my first property was rehabbed before I moved in by others. 

SCHEDULE 

For items after move-in:

1. Electrical - just light fixture replacement etc.
2. Foundation - Just bricking up a window
3. Septic - Inspection, and service -since a grinder pump. 

CASH FLOW

BUDGET BREAKDOWN