Hello, I own an investment 2 family property in the Bronx and it currently has a broken sewer line 31 feet away from the front of the house.

It was just another bill like fixing a roof or upgrading a kitchen. $7k for foundation.

My preference is to buy the property with no tenant in place so I can do the necessary repairs/upgrades and then choose a tenant based on my own criteria.

I finished each space with minimal upgrades.  

Tax appraisal is based solely on the house not taking into consideration what upgrades it may have or what other houses are going for.

Thank you @Todd Dexheimer and @Michael Le@Jeff Greenberg it's a very light value add. most of the heavy lifting had already been done. for this deal it's more about getting a solid, low risk income stream for the investor. in short we'll make cosmetic upgrades to units when they turn in order to keep growing rents 2% to 3% average per year.  

Was it broken and a nuisance?

Always looking for ways to improve the ARV, and have one upgrade that I'm on the fence about.The gas boiler for this 1920's house is pushing 40 years old.  

Yale Drive, to sound like a broken record, has some good and some bad, usually not too bad though.

Tankless is not always cheaper then replacing a tank one.Tankless, you might need to upgrade the gas size.Tankless is usually more expensive then tanked ones.So ask your self  is t worth it?