For the value add we're going to fix up the roads, add a nice sign and fence, replace mailboxes, add lights and fix some plumbing leaks.

Once the interior was stripped and the infrastructure tested, I brought in commercial contractors to handle critical systems like plumbing, electrical, roofing, and HVAC installation.The house, built in the early 1900s, was originally a coal-burning residence.

I then hired contractors for plumbing, electrical, roofing, and HVAC upgrades.

Our NTE for a single unit is $500 so if there was a $475 plumbing bill we knew was necessary for the property we would be paying it and you would see it in your monthly statement.

We re-piped the plumbing with Pex, installed new toilets, new showers, new hoses & fixtures.

Think about it, was it harder or easier to plumb a house with cast iron or galvanized piping or Pex.

A PM is a professional in managing property, not plumbing.  

Helps with your debt to income, better opportunities at cash flow, and typically requires less down to purchase.In regards to challenges, I usually build in an extra 10-15% to deal with things that I can't see behind the walls, including dry rot, electrical or plumbing issues, etc.

I then hired contractors for plumbing, electrical, roofing, and HVAC upgrades.

This usually means all updated electrical, plumbing, and roofing.