Here are some of the numbers we were thinking about when considering this property.I don't have a lot of experience estimating construction costs, but it seems like what would be the most worthwhile for this property would be to rebuild into a SFH or a duplex the size and style of the neighboring properties which are estimated on redfin at $667K to $700K (those are 3br/2.5ba and 4br/2.5ba respectively). 

The other part is in your style choices and attention to detail.

4 Unit Building (one floor/ranch style) - located in Chicago suburbs.

My investment style is fairly conservative (multiple buy/hold rentals) balanced with low-cost index ETFs in our 401ks and brokerage account.

Land and style of home and the area and privacy How did you find this deal and how did you negotiate it?

Changing out all the old flip switches for decora style rockers...and plugs too.

Positives of the House: Amazing updated high end kitchen all stainless steel appliancesNew RoofCan lighting in all bedrooms, living room, and kitchenHigh End basement bathroom includes Jets in shower wall and Heated tile floorNew Central ACNew FurnaceNew HVAC ducting throughoutNewer Vinyl SidingNewer guttersMany newer vinyl windowsNewly wired for gigabit speed ethernet in all roomsOpen cell insulation on second floor roof (solves all cape cod style home problems with ice damming)Nice landscaping both in front and in backGreat curb appealFenced in LotFull BasementOpen concept living roomVery low taxes compared to rest of Lake County IllinoisFinished will have 2 full baths, 3 bedroomsNew copper plumbingNew Natural Gas pipingAll Capital Expenditures are taken care of!

Flat roof repairs - are they more expensive than traditional single family house style roofs?

Go to one of the big-box hardware stores and get a $20 pin style moisture meter (two very sharp pins).

I am curious if you accounted for the front back house style on your valuation of the property?