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

Insurers are looking at more than terrain, it's building, materials, electrical, plumbing, and roofs. 

Purchase price: $260,000 Cash invested: $120,000 Sale price: $535,000 Complete gut, new front and rear walls, all new electric, HVAC, plumbing, roof, deck, windows, interior What made you interested in investing in this type of deal?

Non UL electrical, plumbing &HVAC materials.

Roof, plumbing, electrical upgrades? 

Purchased for $69,000, it needed a full rehab, including a new roof, plumbing, and modern updates inside and out.

The roof, AC, plumbing, electrical and flooring will eventually need replacements.

The yard looked like trash, plumbing stack leaks and multiple water heater leaks.

That may increase your cost or limit the coverage you can get.The Year that the following were updated (either partially or fully) would be good to know:- Heating systems- Roof- Plumbing- electricalSome companies will not write properties with systems that have not been updated.As long as you are living there, the proper policy for a 1-4 family is a "Homeowners" policy.

We decided to outsource major tasks such as septic installation, plumbing, heating, and carpentry, while handling smaller projects ourselves—a decision that proved beneficial.