I'm glad we uncovered this gem!

We did a conference call and he was able to uncover some things that raises new questions.

the project itself may not be too much, but the estimated costs may be eluding you.I have 35 years in construction, and sometimes what you uncover was better left covered.To me i try to stick with the 30% rule which has clearly been broached here.

He and I talked for about 2 hours, and here is what I was able to uncover:1) Unit 1's tenant - living there for 1.5 years.2) Unit 2's tenant (the property manager) - living there 8 years.3) Unit 3's tenant - living there 20 years.4) Unit 4's tenant - living there 30 years.5) The property manager's uncle lives in California, owns the building, and has a real estate portfolio in the millions. 

The resulting data can be utilized to compare the building to like properties and uncover ways to reduce the property’s utility usage.

Let's come together to raise awareness, share insights, and uncover those hidden gems that make this market so unique.Are you an investor with success stories in the Outer Banks vacation rental industry?

Have you uncovered additional resources for Prefab or Modular units?

I wanted to see if you guys would ever entertain this and here are some pros and cons I’ve thought of.Pros:-Tenant is more vested, so longer stay-Someone is paying 1/2 the price of the counter top-the unit will bring about 50-75$ more with new countertops-upgrade is happening while rented = no loss of rent due to vacancy during remodel.Cons:-the biggest thing I worry about is uncovering extra work, new back splash, or heaven forbid their is mold or something...

Brandon Turner - you should have just hunted down some of my posts :)http://www.biggerpockets.com/forums/52/topics/88894-rejecting-applicantshttp://www.biggerpockets.com/forums/52/topics/90852-tenant-screening-uncovered-duis-jail-time-etchttp://www.biggerpockets.com/forums/81/topics/90614-rejection-letters

I was recently under contract for an older apartment building and have backed out of the deal because of problems uncovered during the inspection process.I'm now looking at another older building and I'd be interested if anyone has found creative ways to make these deals work other than moving tenants out and completely gutting and rehabbing.The property consists of 2 brick buildings built in the 1930's one has 12 1-br units the other has 6 1,2 and 3 br units.