Hazardous (Asbestos) waste disposal and mold removal in a REO

[Vinay Mekala]

Hi BP,

I am looking a REO property to Fix and Flip.I looked at the property and found mold on the ceiling and Asbestos tiles on the floor which as broken and scattered allover the house.when I was walking through the property with the realtor She told me that it has to be done professionally by a certified people and she also told me that I can not dispose it in a normal disposal. Its a 1000 SFT home. I guess the roof was leaking all over the home and I see a plastic sheet covered over the roof of the home which means complete roof needs to be replaced. All the rooms ceiling is pealing off and I see mold in the air vents and in the corners. Can any one throw some light as to how much would it cost to clean the asbestos (800SFT three rooms) with a professional and get it certified that it is safe to enter for any one to come and work in the property? This is in MA not sure if it makes any difference due to state by state laws? This is my first FIX and Flip that I am looking to assess and if feasible want to take the plunge.

Also if any one has any thoughts on how much would it cost to fix every thing in the house other than the bear bones house? its a ranch style and needs complete kitchen renovation ,walls,ceiling in all the rooms including kitchen,complete ROOF, Single Bath Room. Idid a prelim estimate of 40 K but the hazard wast threw me off guard and not sure what will come out if the walls are broken . I see the electric panel is concealed in the kitchen cabinets and me and the realtor was trying to find it and it took us good 10 mins to search. This house was built in 1955.If I re do this home can the city come back at me and say that its not per the current code? just wanted your thoughts on how to approach this Fix and Flip. This house is in the market for the past 11 months . first of all its priced high 175Kand the houses in that streetwith this kind of SFT is selling for about 225K.

I know there are lot of BP professionals with a wealth of knowledge who have taken up such challenges and who can help me with this. I will appreciate all your help.

Thanks

Vinay