And although this is going to sound harsher than I mean it to be.

There are some complexities, like power to the external structures and how it's metered.

Open all drapes and turn on all lights (see the Kitchen Photos)Also don't be afraid to experiment with cheap external battery powered lights that you can use to light up a dark area.

God, I'm one funny guy.)If the chimney isn't external to the house, I'd be real tempted to remove the whole thing and call it good.

Set up as below: "Holding " LLC--> "Contracting" LLC" 
--> External Property Mgmt Company--> Tenant ----------- 
Currently the properties are in mine and my wife's name.

Also be aware that your property could be under the Historic Commission which adds a ton of time as they have to approve windows and external work material.Please keep me posted and definitely do your best to get the previous owner to pay for the work.

I'm sure people do it all day and/or know people that do, even on this forum but that doesn't make it legal and doesn't mean that its actually done.If the lender becomes aware and does not take appropriate steps with the homeowner to right the wrong, the lender can be scrutinized by their internal and external auditors and/or regulatory agency.

I get that the sponsors generally make the bulk of their income on sales and they like to show great IRR, but those aren't the ideal externalities for a long-term cash flow investor. 

So although we may continue to use investor money in the form of JVs or private loans, we should build our operating accounts so that soon we no longer need external funds. 

@Wei Chen There are lenders who will do external appraisals.However, I have to counsel that you not open up your post by claiming you're doing something illegal.