Once the interior was stripped and the infrastructure tested, I brought in commercial contractors to handle critical systems like plumbing, electrical, roofing, and HVAC installation.The house, built in the early 1900s, was originally a coal-burning residence.

Purchase price: $630,000 Cash invested: $120,000 Gutted this property, brand new electrical, furnace, propane, finished basement to create separate unit.New garage with rental unit.

Told him I have a rule never east anything out of a frig with the electric off for 6 years!

Where I see my clients do really well for their clients is the HVAC is brand new electrical panel new  Roof brand new etc etc.. kind of like those that buy new construction for rentals those folks are paying full retail for those..

Water is shut off and they are removing the electrical meter.

- We had 2 break-in & furnace & HWH thefts there this year:(File a claim ASAP, you'll need:1) Utility bills to prove electric & gas were on2) A police report, proving a break-in3) Pics/video to prove the condition of the property to support theft claimWhat are you doing to mitigate additional damages?

My PM, who did not know my realtor, said the house looked good, nothing needed to be done, and got it rented.Turns out both were terrible, the house needed new HVAC, AC, windows, Doors, Pipe fixes, Water Heater, electric line, I found all this out after my Tenant Sued us because of the house's condition.We spent a 9 months of the tenants chasing off contractors before we got it repaired and the tenants out, then the judge granted us all our rent so we finally go that.

@Diana Teng there are a LOT of potential pitfalls:(So, it's vitaly important to not just find someone that you think you can trust because they tell you what you want to hear, but you find someone that their processes seem a good fit for what you want.EXAMPLE: we do BRRR Turnkeys for clients and take numerous vides we share with them - initial, worst state of any demo, when HVAC, plumbing, electrical update BEFORE walled in, before any major payouts and of course a final walk-thru video.One thing that's accurate from all the HGTV renovation/flip shows is that you should expect and plan for surprises!

A complete overhaul of the kitchen and bathrooms, including cabinets, countertops, LVP flooring, electrical and plumbing fixtures.

Electrical work, plumbing, foundation, windows, roofing, and AC/Heat.