He is cleaning out his house, putting appliances out on his front steps with "For Sale" signs on them, and claiming that it is a good thing to sell off your possessions. 

While many appliances and the A/C, water heater, etc were updated they didn't update plumbing or wiring.

. - New windows, AC ducts, attic insulation, gutters, appliances, fans & lighting, paint, and tile.

Overall condition is pretty good new appliances in the kitchen just a very dated 1990s look.

Cap-ex was needed for:* Original 1960s kitchen, appliances out of order* Original 1960s Pepto Bismol colored tiles in the bathroom* Tobacco and marijuana stains/odor in every room* Stained carpet covering damaged hardwood* Broken side door from forced entry by police* Zero recessed lighting with 3 layers of blinds on every window* Lots of trash in the basement both on the floor and mounted to the joists overheadCheck out the Zillow listing at: https://www.zillow.com/homes/119-Jasper-Pl-Alexandria,-VA-22...What made you interested in investing in this type of deal?

The big deals will be vacancy, capex and appliances. (3 water heaters, stoves, fridges, microwaves?

This is just another argument for ALWAYS including appliances with a rental.

we run all heat pump appliances so our bill is higher than most.

Until you spend 20k on paint and some new kitchen appliances, but the roof and foundation are still shot and the 100k ARV is more like 70k in reality.

Will it be after it has been stripped of all the appliances etc etc?