Adding value and sweat equity to the homes we occupied was the only way we could afford the bigger properties we needed.

The entire project took around 3 months with EVERY square in minus the electrical( some added) being gutted and renewed.

One other possibility: the property has already been rented, and they just haven't bothered to take the ad down yet.

However, planes of that era couldn’t stay aloft on one engine for long, doubling the risk of crashing into the Atlantic Ocean without any added benefit.

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.

After tackling affordable upgrades like kitchen makeovers and adding an ADU, they focused on medium-term rentals for traveling nurses.

I added a bedroom to my two bedroom suite due to high demand last year. 

Note that many areas have a mix of A-D neighborhoods but in general the below neighborhood classes hold true.

A capital improvement is not - it gets added to the basis which ultimately reduces the tax due on sale but it’s not tax deductible in the sense in reduces current income. 

Hey William, what about adding another partner that has experience doing larger deals?