The  lowest I could go may be break even, provided it will be short lived and I believe the appreciation will go through the roof.

Also had a roofing contractor lie about the state of the roof in hopes of getting a new one - when our own roofer said there was nothing wrong with it and the life span of a roof is a lot more than 10 years. 

The place needs a roof or whatever....4.

We just bought our first multifamily and it needs a new roof.

The place looks like it needs the roof replaced, interior needs an update, outside would need to replace some wood planks to be replaced.

This can tell me a lot about the age of the plumbing, roof, HVAC, etc before actually walking it.

Hot water heater leaked and flooded downstairs storage area.

view=publicIt's a 3 bed 2 bath house, almost 100 years old, and the seller made a bunch of updates to the house (fixed roofing, foundation, re-ran electrical wiring, redid flooring, and interior paint) prior to me moving in.So far, I've added a dishwasher to the place, and here are my thoughts as far as other "value adds" go, but I don't want to invest the money if you guys and gals don't think there's much opportunity for a return on it...

My intuition tells me that if they were rehabbing a property in poor condition, they surely must have known that water was leaking into the basement.

We also beautified the exterior, fixed the roof, have now rented the bottom unit to a medium term tenant as Albany Medical Center is a 5 minute walk away.