Also remember it will take time to get them done, during which the home is vacant and not on the market.People shop with their eyes-so many don't care about stuff that is really important (plumbing, electrical, roof, etc). 

It's a ranch with very few steps, which means it is generally accessible to all people, even though those steps are a little steep.

I like nicer houses that just need paint and flooring or maybe a roof.

Building Details:- 2 on bottom 2 on top - 3/1.5 ba 1100sqft - 7 yr roof - prob $35k - 50k total work/updates to make awesome.- Neighborhood ~ C- but a C- area here doesn't mean too much, smallish town ~ only about 50k peoplePurchase Price: $660,000Appraised Value at Purchase: $730,000Interest Rate: 6.625% - 30 year fixedDown Payment: 10% / $66,000Cost to Make Rent Ready: $14,000P&I - $3803 T&I - $898Total PITI - $4701/moCapEx, Vacancy, Maintenance - $1099/moTotal Monthly Costs - $5800/moCurrent Rents - $3800 (3 units)Fair Rents ~ $5000 but will likely only charge ~ $4500 to start.

Large projects such as roofs, repipes, or HVAC only get about 50% - 75% of the actual cost.

Account for costs associated with capital expenditures such as the condition of the roof, foundation, and HVAC.

Reserve funds should handle a major cap x like a roof, plus money to pay the bills while the work is being done as a tenant likely won’t be paying during this time.

Now the minimum standards your basement has to hit for it to be able to count as assessed sqft not estimated is a height of 7 ft, a point of egress (bilco doors) and a window usually in the rear, It's one of those things where if your going to go through the process of digging out a basement you might as well go for it and dig it deeper then 7 and closer to 8 ft so you actually stand out compared to the competition.Now the other side of this coin which I would suggest is if you're willing to spend 40-50k on a basement dig, consider adding a 3rd story addition if your a 2 story (think master suite, walk in closet, master bath) or an addition off the back and add a roof deck if your a 3 story (either master suite or just additional bedroom).

Plumbing, roofs, HVAC, hardscape are expensive.  

Do your own roofing.