@Gordon French, @Thomas S., @Jay Helms thank you all so much for your insight.

The 2 feet upward slope (which is 2 ft away from back of house & backdoor) is causing the water/mud from backyard to come toward the house; I have a french drain that's suppose to drain water but not the mud.

The house would cost between 10,000- 13,000 to get it modern Living area, throw in some French ddoors and enlarging the Windows in the basement.

If the house was having a serious water issue around the foundation during rain, these pipes would be buried in the lawn and connect to the downspouts to run the water further away from the house to the curb or into a french drain style system.

You will probably need a French drainage system in the back diverting the water to the side(s).  

We would have to take half bath to full bath, section off split level with locking door (separate French door access for prospective tenant already); finish utility room by adding small kitchen.

@Gordon French i actually have a loan on my new 2017 honda and i kind of wish i hadn’t due to the large monthly payments lol

Not sure where @Gordon French's statute came from but it is the old law.Here is the link to the Denver Post article which references the change in the law.

(House was in Highland Park, Los Angeles)Purchase price: $600kRehab: $94k - Full rehab: new layer of shingles on roof, 13 new windows, all new doors, new laminate floors, new 3' front retaining wall, full gut kitchen (new cabinets, quartz countertops, tile backsplash), 2 full gut bathrooms (new tub, floor tiles, wall tiles, vanities, faucets, toilets, vanity lights), converted one closet into a washer/dryer closet, created a master ensuite with a hallway bath, opened up some walls, recessed lights throughout, scraped popcorn ceiling, installed new HVAC, interior paint, exterior paint, stucco repair, new landscaping front and rear of house, new wrap around deck, installed double french doors master bedroom and garage, to new tankless water heater, new exterior lights, updated light plumbing and electrical, new garage door with motor, and some other normal repairs like replacing drywall, floor boards, and replacing some wood trims like facia boards.    

There is no standard in modern finance for real estate like the CAPM or Fama French three factor model in equities.