This is what I have done to the property and what's next.Bought at; 77,500$ (4bed/2baths) Rehab budget: 10k (but since there were major unseen problems pushed it to 13k)Closing cost; 780$Lenders fee: 7% of 100k he let me borrow so 7k Buyers agent fee: 3,500$ (3%)ARV; 125k (I will try to sell at 130k since it did not get flooded by Hurricane Harvey )Holding = 3,000$ ( 6 months holding) Profit= 17k-25k This is the work the house needs and some that I had done and what it cost me.Foundation lift (28 wholes)   = 4,050$ (done)Plumbing (while the lift pipes broke)  = 1,200$ (done)Driveway                  =2,000$Kitchen                    = 1,200$  (halfway)Roof rot repair         = 500$ (done)(did not replace the whole roof since it’s in fair condition)Laminate Flooring   = 400$     (done)Restrooms               = 800$curb appeal             = 500$Paint                         = 200$    (have it)hardy planks            = 100$framing/sheerock   = 300$      (done)bass bord                 = 250$    (have it)fans                           = 100$   (done)doors                         = 450$  (done)Helper =                     = 180$  (halway)total                          =  12,230$ left                              =770$Most of the work I’m doing my self with others except foundation, plumbing, kitchen.

Every year one more house on Holton has a fresh coat of paint, a new porch, roof, landscaping etc...

Plus we added a roof deck!

Foundation, roofing, plumbing.So you will be a landlady before you own a home?

They want a house with four walls, a functioning roof, and rough and finish materials that work.

Consider asking for some special terms such as a partial VTB (borrow 60% from commercial lender and 20% from the seller), or consider asking the seller to have some work done on some bigger ticket items (such as new roof or boiler), so that cost is built into your purchase price and your loan basis.

Perhaps multi-families have a higher chance of a lawsuit because there are more people living under one roof in multiple units. 

If by chance there is a larger access point which requires some extra work, they will point it out to you and you can decide how to proceed.For my issue, the pest control service placed traps, trapped a few, and closed 2 access points which happened to be air vents on the roof, with mesh wiring.  

It needs a roof probably more (I haven't seen inside).

Expected renovations include: new windows, new flooring (carpet throughout mostly but a few rooms have hard wood), new paint throughout, landscaping/small patio work in back and stone work along steps and walk way, new light fixtures and other cosmetic items, possibly some repair to the slate roof and new kitchen (new cabinets, flooring and appliances).