Of course not, but required items such as electric, water, gas, and plumbing all need to be in working order.

If you buy a hot water heater for the other unit, you can write off 100% because you have no personal use of that hot water heater. etc.

Or if you are able to connect to public water &  sewer, this would make the investment much easier.

I agree with Nathan (don't forget to price running extra water, sewer and electrical lines).  

Another lesson is to research companies online and in forums like this before you do business with them and if you decide to do business with someone, dip your toe in the water slowly and continue to research the company after you start working with them, because things can change quickly.I have some questions:1. 

Will rent for 1750/month.Capex items needed soon: roof, water heater, furnaceArea: A area, appreciation is at about 5% a year but average home price is ~$500K so this home will appreciate faster, this will have multiple offers on itDeal #2 - mixed use, small office with a 3 bedroom and a 1 bedroom over it.Ask: 325KCurrently fully rented on one year leases, bringing in 4775/month but only one tenant pays their own utilities plus owner is responsible for snow removal and landscaping. 

The licensed plumbers do not get permits for water heaters, I have never heard of one being red tagged solely for not having a permit so I do not get permits (and know no one that does) for swapping a water heater.  

Remodeling, painting, carpet, flooring, light or water fixtures - sure, I'm good with that.

Hey Everyone,   Honestly just looking to take a dip in what I know are undoubtedly deep waters.

We have had all kinds of issue with the water meter reading too, and getting lot rent invoices in a timely manor.