@Neil Patel Welcome to Bigger Pockets!! 

Quote from @Raif Jochim: Bigger Pockets Community -I'm trying to plan for the future and have a question I'd like your thoughts on.  

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

@Sebastien Tinsley Welcome to Bigger Pockets !!

If that is the case then their loan would not go against the property and you keep the land loan. of course then you need to come out of pocket for site prep.

We got three estimates from masonry repair companies ranging from $7,500 (patch) to $35,000 ("do this repair now or you will need a major $80K repair").

It will be expensive as you'll need a meter socket, weatherhead, breaker box/load center in the unit and then all the circuits in unit three will need to be disconnected from the present box they go to and brought into the new load center.

@Megan HerringtonBigger Pockets is a great place to find a real estate tax accountant. 

@Armell MayersBigger Pockets is a great place to find a real estate tax accountant.

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