Most land bank properties, Detroit or Wayne County, are trainwrecks and cost more to rehab than they are worth - unless the market keeps improving.Be careful on the next one, but keep improving Detroit!

My favorite ones (as a Contractor) are those like : "How much will it cost to re-wire my entire house?"....."...

I specialize in STR & Co-living concepts, which I recommend for the highest rental income potential! 

I know that interest on the acquisition loan can be included in the cost basis since it’s inventory.

@Caleb Christopher @Beth JohnsonTypically how much does that cost?

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

My current lawyer has been a little hard to reach out. could you please let me know about how much is the cost?

If you are organized enough to forsee hang ups and talk with your GC about potential challenges on a regular basis, two brains are better than one.

My lease requires professional carpet cleaning, which would cost more than $500 for a home of that size.Yes, it's reasonable to reduce the cost because she was such a long-term tenant.

The biggest factors, from what I can tell, are age and rebuild cost.