We do not see the pull backs or insane west coast appreciation up here but we had a guy @ a BBQ last night tell us that after some major rehab he doubled his money on his 1st house & bet none of us have done that.

@Rick SteinI'm starting my second MF centric meet-up in Austin if you're interested:September 17th from 6:00-8:00 and every 3rd Tuesday going forward at Rudy's Country Store and BBQ, 3914 N Lamar, Austin TX 78756Format will be education, networking and masterminding from both the active and passive investor perspective.  

Ironically, the opposite is true. 

And by the way it sounds like BBQ coals and your being a feed a load.

I also recommend replacing the cast iron plumbing while you have the walls open.

Within a couple days, my property became the block hang out, we had huge social groups, bbq's, etc. outside of the home because everyone was getting together for some real positive change.

I'd at the very least want to replace all the drain traps... after 50 years, the cast-iron likes to develop leaks.You didn't say anything about bathrooms or kitchen rebuilds, but in a house that old you're probably going to find rotted subfloor under the bathrooms... maybe even rotted joists.

Copper, iron, lead, etc are finite resources.

Cast Iron pipes?

I want to do the following to the place now that we are in the process of moving in:1) New carpeting of about 800-1000 sq ft2) Want to finish a room in the basement 3) Wife is not happy with the granite in kitchen, so want to rip it out and replace and enlarge the island area in kitchen4) Need some plumbing work done5) Want to rip out the shower and tub in master and modernize6) Iron balusters on stairs 6) Need A/C work done And a few other odds and ends.If anyone in Atlanta has any recomendations I would greatly appreciate it.