I rarely find a pluming/electrical issue that costs more than $500 to fix (assuming nothing obvious from basic inspection), so I deal with it if it comes up.Basically, instead of spending $2000 on additional inspections from termite companies, foundation companies, engineers, radon tests, etc., I put that $2000 towards my "surprise" budget.

-----------------------------------------------------------------------------------------------------------------------HOUSE CONDITION: - BUILT 1969 - TWO FAMILY:            - UNIT 1 (OWNER OCCUPIED): 3 BED/1 BATH 3 PLUS FINISHED BASEMENT WITH ADDITIONAL BATH            - UNIT 2 (TENANT OCCUPIED): 3 BED/ 1 BATH, MONTHLY RENT $1900- HEATING: HOT WATER HEATER WITH GAS (FURNACE REPLACED IN 2007) - NO PLUMING OR ELECTRICAL ISSUES NOTED - A/C: WINDOW UNIT - WINDOWS REPACED 15 YRS AGO - FINE, STORM PROOF - KITCHENS UPDATED 2001 - ROOF OKAY FINANCIAL STATS: - CURRENT MORTGAGE BALANCE: $431,277.28- MONTHLY PAYMENT PRIOR TO FORECLOSURE: $3267.98- BACK PAYMENT AS OF 04/16/19: $41,208 (IF PAID, LOAN WILL BECOME CURRENT) - ANNAUL TAXES: APPX. $17000- SELLER HAS NOT BEEN PAYING MORTGAGE FOR THE PAST 10 MONTHS (SINCE JULY 2018) ACCRUING A TOTAL OF $8528.16 (APPX. $853/MONTH IN FEES/FINES)- ARV : 630K- REHAB COSTS: 80,000-----------------------------------------------------------------------------------------------------------------------------------------------------------------------I have considered Sub2 strategy as well as cash purchase for the end buyer, but it just doesn't seem to work due to the high mortgage and low equity.

I think leaving it how it is is probably the best way to go, unless I can do something really creative to not have to move the pluming around much.

You have lead paint and possibly galvanized pluming to deal with.I would either wait and save up more money or go in with a partner for a better asset in a different area.

But it's important to know that there are alternatives to pluming down large sums of money, and also that plinking down large sums of money far from guarantees success.Again, just my $.02...

I don't take dermatology advice from a mechanic or pluming advice from a doctor.

So true alot of the properties that we go in after it has been sitting the take the pipes out cut pluming and take anything of value so alot of times it is a second claim.

The kitchenette idea may be shut because there is no pluming.  

Probably a bigger pluming company.

I warned them few months ago I will have to split the water meter into three units but at the moment i have to come up with pluming money and wont be fair to split the bill in three .