This thread is vintage Andrey.

Thank you all for your time and ideas.My faux pas on $0 basis, I meant the opposite.

Nonetheless, you should verify this with your own tax professional.Certainly, the structural quality will vary be area, vintage and who built it.  

Things like crown molding or faux tray ceilings in the Master might be a good idea too.

Older vintage product which would be C and D buildings being by the beach most likely in an A to B location were built on more expansive lots as land was more readily available.In most area land is now at a premium so things are much more compact and tighter.If you have a bunch of land next to the beach you might have a re-development play in the future.7.5% CAP rate on that vintage of a building is pretty weak.Most with that vintage want a 9 to 10% return.To drop almost 133,000 into a property for an annual 5,000 return if everything goes perfect is crazy in my mind.With that much money you should be able to leverage yourself into a much larger project.Given the age of those buildings when you re-model you will have to conform to the new EPA lead certification rules and procedures which run the costs up.What about deferred CAPEX??

It's a "faux" duplex and the price does reflect that fact. 2Bd/1Ba upstairs 2Bd/2Ba downstairs. 

It was like she cleaned up, took her expensive jewelry and walked out the door.  

Pay a little more for the $24 dollar Faux wood plantation blinds -- easy to clean and they don't get trashed by kids. 

I like that vintage tile.  

Vintage mid century modern charm and untouched since 1950.