The house is a five bedroom could be converted into a six bedroom three bathroom house about 20 minutes from downtown near schools in a secondary suburb.

Vanities for bathroom.

This includes raising a roof, running electrical and sewer, installing a bathroom and kitchen and finishing everything off.

I'm in contract on a $400K house upstate NY - was prepared to spend $50K on cosmetic changes (painting,  new floors, new kitchen, new bathrooms etc) but after getting the inspection report today here's all the issues I'm dealing with and it's not pretty (see below) How should I move forward?

My contractor was supposed to do a full gut renovation (bathroom, kitchen, floors, everything!).

Has quite a bit of parking, bedroom space, although one bathroom could be a drawback.

It has the possibility to add 2 bedrooms and a bathroom with enough time and money.

Purchased under market value, rehabbed Kitchen, Bathrooms, Interior finishes (flooring, paint, windows) and Landscaping.

The after-repair value (ARV) of the property is estimated at $260K, which could net a profit of $15-17K after selling expenses.At the sale price of 260K, the property meets the one percent rule and features a brick exterior, new roof, 2 new bathrooms, and 1 new kitchen. 

I looked at nearby comps and realized that I could easily recover my investment if I were to add an additional conforming bedroom and bathroom!