To create an effective and lucrative rental property portfolio, start with a strong foundation, maintain discipline, and adjust to shifting market conditions.Good luck!

Scope of Work:Initial Assessment: Our team conducts a thorough assessment of the property to evaluate its current condition, identify structural issues, and determine the scope of renovation required.Design Concept: Collaborating with architects and designers, we develop a design concept that blends contemporary elements with the historic character of the row house, maximizing space utilization and optimizing layout efficiency.Structural Repairs: Structural repairs and reinforcements are undertaken to ensure the integrity and stability of the building, addressing any foundation issues, roof leaks, or structural deficiencies.Interior Renovation: The interior of the row house is completely renovated, including the removal of non-load-bearing walls to create open-concept living spaces, installation of new flooring, upgrading electrical and plumbing systems, and installing energy-efficient fixtures and appliances.Kitchen and Bath Remodeling: The kitchen and bathrooms are transformed with modern finishes, custom cabinetry, quartz countertops, and high-end appliances, creating functional and stylish spaces for daily living and entertaining.Historic Preservation: Special care is taken to preserve and restore original architectural features such as exposed brick walls, decorative moldings, and hardwood floors, enhancing the property's historic charm and character.Exterior Enhancements: The exterior of the row house receives a facelift with fresh paint, repaired masonry, restored windows, and landscaping improvements, enhancing curb appeal and contributing to the overall aesthetic appeal of the neighborhood.Quality Assurance: Throughout the renovation process, our team adheres to strict quality control measures and standards, ensuring that workmanship meets or exceeds industry best practices and building codes.Finishing Touches: The finishing touches, including interior decor, lighting fixtures, and hardware, are carefully selected to complement the design aesthetic and create a cohesive and inviting atmosphere.Timeline and Budget:The single-family flip project in the Philadelphia row house is estimated to be completed within [timeline], with a budget of [budget].

foundation condition?

When the sq ft numbers for pre-fab are quoted, they typically don’t include the costs associated with site work, foundations, and utilities; they are only quoting the costs of the ‘boxes’ that get dropped on site.Many jurisdictions still haven’t accepted pre-fab buildings as an approved construction type as well, which can lead to a longer and more difficult permitting process.I would do my due diligence for sure before going down the prefab route

I am concerned about the foundation.

Tenant reached out, sharing that her landscaper pointed out that the concrete slab/foundation where the well water system and AC units sit are "deteriorating."

However, it does provide a foundational understanding that surpasses what the average person knows about the industry.

The books you’ve read are excellent resources, and they lay a solid foundation for making informed decisions.

-Has no crawlspace (common for older properties) so we couldn't see the foundation-Drywood termite/wood decaying fungi damage seen on all the windows/doors/parts of the beam on the exterior, parts of roof decking and rafters in the attic-Old leaks/moisture damage seen in the ceilings and attic-Parts of the roof has patch work-Roof doesn't have any permits on record (don't know how old it is)Seller's offer to me:-Fumigation treatment for drywood termites (tenting the house)-Replace and repair all damage wood throughout the house-Replace the entire roof with a new permit-Replace one window in every room (not all)-Pay for a structural engineer to inspect the foundation-Offer to get quotes for repairs and have a 15-20K budget to make all repairs, house is 500K.

A sump pit with lots of gravel surrounding the sump basin will attract water much quicker than a sump pit with less gravel around the basin. etc.).When I had my flooding issues, I paid a hydrologist to come out and inspect the property and educate me on how water was moving around the property, and importantly, how water was moving underground near my foundation.