When I initially spoke to the seller she stated that they were upside down on the mortgage and had out about $30k into the repairs so far including HVAC, electrical, and plumbing.

@Irina Shetty One thing that stands out to me is the Electrical.

PP $210kDP $15kRequired roof repair $15kInspection currently taking place this morning so unknown additional repair costsCurrent rents $2345 Owner paid W/S/G & exterior electric $544taxes $2200 /yrInsurance (awaiting accurate quote) estimated $1200/yrSeller financing $195k at 5.85% 5 year balloon amortized over 30 years with monthly payment of $1150.

*new roof*interior and exterior paint*new flooring*updated electrical system*opened up doorway between dinning room and living room*all new kitchen (cabinets, stainless steal appliances, granite countertops)*trendy board and batten window shuttersThe top selling points were the beautifully tiled bathrooms and kitchen backsplash.

PITI: $1,200.5% Down Payment of $163,000 Purchase Price.Property Appraised for $190,000 right out the gate.Originally paid Gas/Water for both units and electric for 1 side, but am in process of switching electric over to new tenant, which should save $140-160/mo. 

It's in Woodinville and  listed at $238k 9583 sq ft lotManufactured home sits on propertyWater and electric SepticMLS# 1344586 Thanks for taking a look!

I see I made a major deficiency in purchasing my current property with the age of the key items, e.g. gas furnaces, water heaters, washer/dryers, refrigerators, stoves, plumbing, electrical, etc.

We replaced the refrigerator because it’s temperature was varying more than it should; she monitored its temperature.  

Converted it from 4 small bedrooms to 3 bedrooms, with master bath, redid all floors, bathrooms and kitchen, all new electric and plumbing.

@Patrick Britton it varies depending on the contractor you choose, of course, but, for a 4bd 2ba sfr, you are looking at about 50k for a gut (add 10k if any roofing or tuckpointing is needed), 20-30K (maybe less if you get a discount on labor) if its just a few cosmetics but needs new plumbing or electricity, and about 10k for cosmetics only.