Help me understand the extent of rehab required

[Randy Dulac]

I am looking at a 2 family that is close to me and is in a good area. I

want to BRRRR this property. It needs a lot of work. The home has

been vacant for 10 years, and has no heat. The was built around 1900.

Structurally it is solid and the exterior needs minimal work. Here are a

few questions that I have regarding the rehab

1 Windows look original, should I assume that I need to replace all of them due to the risk of lead paint?

2 Should I assume the home needs all new plumbing and none of the original plumbing is salvageable?

3

The electric panels are fuse boxes, and I don't see much wiring that

looks new even though there appears to be some grounded outlets

upstairs. Should I assume all wiring needs to be replaced?

4

Since I have to get into the walls to do plumbing, electrical, heating,

should I assume that the house has to be gutted to studs?

I am in

the construction industry, but I don't have a lot of experience dealing

with older homes. I appreciate any insight you can share. TIA

[Tony Gunter]

@Randy Dulac

It sure sounds like a to the studs gut. 1900’s house, expect plaster and lathe over studs for the walls and ceiling. It’s a big demo.

The biggest danger is hidden structural damage. Water and termites are the concern. Go under the house and inspect all the floor joist, sill plates, rim joist, support piers, etc. Make sure the foundation and the wood components sitting on top of the foundation is solid and not rotted out. Expect to have lead and possibly asbestos to deal with. Lead in the paint, asbestos in heat protection uses, siding, and potentially in the plaster as well.

If I was budgeting site unseen I would be around $80/sqft. I like these properties, but I would “fine tooth comb” the property before I pulled the trigger because a slip up on a property that needs a lot of work has more potential consequences than a light rehab. Decades of cumulative neglect involved typically in these older properties.