It's really just looking at the comparable homes in the area that are updated in a style similar to your proposed renovations.

I am not saying you wont find a gem, but you can be sure much has been picked through already (unless they sell them auction-style), which leaves the properties that are less desirable, and plenty of these aren't worth getting for free!!!

If you have a handy uncle / friend / father who can help teach you some of the remodeling skills, that's even better. 

@Khorey Beauford you’re on the right track teaching out on BP.

But if you sell the property after your parents pass you owe $0 in tax.Moreover, I'm working hard to teach my children that they can also hold on to the properties they inherit from me. 

Can you teach me how?""

I just got an apartment style duplex under contract two hours ago.

Best to purchase property with none of these issues but hey, that is not reality either.Doing one now where the old style kitchen is small.

If you're ever interested in learning more about lease options, I teach it for free to my interns who want to take a crack at it and learn the system before venturing out on their own.

That's for a ranch style home.