The other is undergoing rehab currently and should be done within the next 2 weeks.Thanks again to the BP community, I can say that I could have done it with out all of your help, but it would have been substantially more painful and expensive.

Offered me a mentor program $35k it still send shock waves down my spine. $35k and I was already selling him a deal.

Pete there are several small pockets near and around downtown that seem to be undergoing some form of gentrification.  

However, I know an area that is undergoing some development that is going to cause the properties within the area to be worth multiple times more than what they are now.

Any large capital expenditures can reduce that $164/door but I haven't had any yet that can't be paid by the 10% in repairs that I reserve given enough time to get that reserve collected in rent each month.I have a 7 unit apt building (plus 2 commercial units) that is undergoing casualty repairs due to a fire earlier this year.

If there is visible cracking that will just worsen until it leaks, you might be better off replacing while it is undergoing rehab.

This would become my primary residence, where I'd also be undergoing renovations as this home was built in 1950 and is currently in need of repair.My question for everyone kind enough to offer advice is two-fold:Does anyone have any recommendations on how I should perform an engineering inspection (pre-purchase)?

@Rickey Ear I think there is some potential in that area, personally.  95th and Bannister is near there and will be undergoing some revitalization over the next few years with Cerner's large new office. 

This is about $100 higher than a lot of units on the island.Identical units in the complex sold for as high as $245k before the crash.The complex is undergoing renovations.

A Builder’s Risk policy is specifically designed to meet the unique challenges and exposures posed by an unoccupied structure undergoing renovation.