They'll also want to know if you can handle the carrying costs like interest, electric, water, sewer, garbage, house insurance covering construction, etc, etc, while you're doing the renovation.

hi Jim Add me to your connections.My name is Raul Vargas I'm the owner of nogi electric in Mesa Arizona.

HOWEVER  ...... when I  sent a contractor over for a few minor violations (smoke detectors), electrical lights out..... 

In Long Island there are all kinds of companies leasing solar panels for exchange of buying electricity at a lower price from them.

It's a cleaner unit but it has electric wall heaters instead of a tradition furnace.  

I have purchased several deals where the house was just a shell and had to rehab everything from plumbing to electrical to roof , etc. it's a massive headache and extremely time consuming.

A lot of new drywall, plumbing, electrical, sub floors were added/replaced to kitchen, new windows, siding/gutters/fascia/soffits, flooring (much of home had original hardwood), plus all the visuals you see on photos (cabinets, granite, trim, etc).

Although I can't really offer any advice on the  analysis side of things, I may be able to help if you are in need of any plumbing, hvac, or electric work with any current or future properties you invest in. 

As a contractor I always prefer a full gut but it does eat away the rehab cost and takes longer but no stress about plumbing, leaks, electric, lead paint and etc in the future.The patch up would cost less, fast timing, but then you are gambling with what's behind the wall and hoping nothing happens in the future.I assume most house that are purchase for BRRRR purpose are in distress/bad condition and old on some occasion.What rehab number would you go for?

After the inspection it comes out that despite the structure being sound, HVAC electrical plumbing and roof are pretty old and may need attention soon.