To summarize, all of the upstairs laminate in the master bed, hallway, stairs, and a 25x15' section of drywall had to be removed from the first floor ceiling. 

There are two flights of stairs inside, all floors are relatively flat, will be exposed to a lot of direct sun in areas.

The other tenant was renting for $750/month and we gave him the option to stair step over 2 years to $1,200/month.

I looked at probably 50+ 2-4 units and I became extremely discouraged by how overpriced many were and if not overpriced, the fear that many of these multiunits needed $50k+ to be fixed up (think decks, stair cases, foundation, cosmetics). 

In many cases the city is not in favor of converting 2 families into 3 or 4 unit buildings, because that would mean to increase parking and sewer by 50% to 100%.To make it a legal 3rd unit you will need to have two forms of egress (stairs), so pleople are not trapped up there.

Unit 2: $1100Improvements: roof and front stairs - $25k Monthly cash flow: $376 per month (total) Income $1850 Expenses $1473 CoC ROI: 7.41% **Note: $750 for the first unit - tenants are elderly and have been there 25 years and would not be removing them or hiking the rent up.

Each unit has a front entry to the shared open porch, then a rear entry to the common back hall/stairs.

I walk down my stairs and the bottom door opens to the front porch.

Sometimes the cement used between the bricks will start to turn to dust as it gets old and foundations will need to be replaced all together. 4) Warping/disintegrating roofing material.

Just inside the side door on the left are the stairs going to the basement.