Some work benches in the garage and a piped in compressor, a gas log in the master bedroom, defined place for a monitor in the kitchen corner (use your imagination).

Thanks for the tip Tim.I always feel better about offering on an REO that still has the compressor unit outside.

I had a situation recently come up where a property's refrigerator's (actually just the freezer side's) compressor died.The earliest a new refrigerator could be delivered was a Monday (within 3-hour window of time that would be communicated the night before).

If it is older than 10-12 years old you have to replace one of the major components (compressor,condenser, evaporator), it is time to bite the bullet and replace the entire unit, lines, etc.

IE the compressor is bad, its not covered, but oh we will give you a 20% discount on a new unit.I have heard about 50-60% of warranty expense goes to sales and marketing, so on average you are saving a lot of money by just saving up.Personally, we set aside a few percent each month into a separate account for larger capital repairs, ie a new roof, or AC unit, I think over time you will find this to be the most efficient option. 

Then, somebody that wants to upgrade in the future can easily pull the existing wires out of the conduit, pull thicker wires into the conduit, and install a larger breaker and outlet.The 240 V circuit in the garage may also be interesting for a future tenant that wants to run a welder or a big air compressor in the garage - somebody that likes to work on cars or build things at home.From what I remember in art class, sometimes the kiln runs for several hours. 

After Repair Value: $200,000Closing Costs at time of purchase: $3,717Monthly Holding Costs: $1,622Interest Payments: $905Property Taxes: $537Electricity: $50Water: $30Insurance $100Number of months holding costs: 9Total carrying costs: $16,693Repairs $84,272 + 10% Contingency = $92,700 TASK UNIT Materials Needed Line Item Cost Asphalt Shingles Per Square 30 $6,600.00 Build Deck Per SF 150 $2,700.00 Large Concrete Jobs Per SF 1000 $5,000.00 Install Sod Per SF 2000 $4,700.00 Roll-Off Dumpster Dumpster 4 $1,400.00 Full Demo Per SF 1000 $400.00 Service Call Per Hour 16 $1,360.00 Natural Gas Hot Water Heater - 50 Gallon Per House 1 $710.00 Replace All Supply Lines Per Fixture 4 $800.00 Install/Replace Tub Per Tub 3 $1,050.00 Build Tile Shower Per SF 225 $4,387.50 Kitchen Sink Per Sink 1 $120.00 Bathroom Sink Per Sink 3 $210.00 Kitchen Faucet Per Sink 1 $90.00 Bathroom Faucet Per Sink 3 $210.00 Trim Kit Only Per Tub 3 $390.00 Install/Replace Toilet Per Toilet 3 $510.00 Replace Washer Box Per Box 1 $175.00 Rewire House Per Fixture 100 $10,000.00 Replace Furnace Per Unit 1 $1,800.00 Compressor + Coil Per Unit 1 $2,750.00 Frame Walls Per LF 30 $360.00 Wall Board Per SF 500 $580.00 Non-Wall Board Per SF 500 $630.00 Exterior Door Per Door 1 $800.00 Interior Door Per Door 6 $1,020.00 Replace Window Per Window 20 $5,400.00 Repaint Per Floor SF 1000 $2,250.00 Paint New Sheetrock Per Floor SF 600 $1,560.00 Install Kitchen Cabinets Per linear inch 324 $5,670.00 36" Vanity Per Vanity 3 $690.00 Granite Countertops Per SF 50 $4,600.00 Install Solid Wood (Site-Finished) Per SF 1000 $6,000.00 Install Tile Per SF 700 $3,850.00 Permits Per House 1 $200.00 Refrigerator Per Appliance 1 $1,500.00 Range Per Appliance 1 $1,200.00 Dishwasher Per Appliance 1 $550.00 Microwave Per Appliance 1 $300.00 Washer/Dryer Set Per Set 1 $1,500.00 House Cleaning Per House 1 $250.00 Commission to Realtor at time of Sale 7% - $14,000Interest to Private Lender: $933Offer Price: $37,000Potential Profit: $38,375 --> Some factors about this one…it's on a busy road and there aren't a lot of similar style houses to use as comps, the house does sit on a larger sized lot for the area though.

I do save some money by installing the 220 line to the outside compressor and the gas line to the furnace (already done).

Compressor for your HVAC: $4k in cost and it has 5 years left. $66/month. 

Anything longer than 1 1/4" or so and you have to start using high pressure compressors, etc.