Showed the restoration was done by a professional company specializing in water damage.

Design kept changing, but we were able to restore the 1950's wood doors & stained glass window to keep as much of the original charm as possible.

Design kept changing, but we were able to restore the 1950's wood doors & stained glass window to keep as much of the original charm as possible.

In a neighboring town (granted they are ridiculously strict) they made someone who did not get a permit remove the addition and restore it to its original condition.Once you own the property, all these issues are yours to deal with.DEFINITELY know what you're getting into with this, and call the agent out on crap advice like this. 

(I actually know of people who are both buying and selling at the moment and taking these two contradictory positions, depending on which hat they are wearing at the moment.)The disconnect alone has forced cap rates up, though it's not translating in the data yet because the deals closing recently were in the pipeline before Covid hit, and everyone else is holding their deals off-market in the hopes of a quick rebound.If either (a) the economic openings do not restore the economy to where it was in January 2020 or (b) a second wave of Covid hits because of the openings, happen, then all bets are off.  

I have a court date end of June, the magistrate already admitted that if I succeed it likely will not restore possession of the house on the normal timeline.Any investor who is ok with this, really needs some time for reflection.

You must divide the cost of the improvement over the useful life of the improvement and then take an annual deduction based on the given year's expense.A repair is made to restore an item to its previous condition.

Ideally, I would like to fix/ restore old homes, and sell or keep them as airbnbs.

Hey Kamil,Old homes do have their own particular challenges, there are a few specialty companies out there that deal mainly in remodeling and restoration of "classic" homes.

Anyway, once the land has been destroyed it can never be truly restored, so think long and hard about the real value of whatever you are going to do..... put up a big box store?