That said, there is an over supply in the city at present which is putting pressure on older properties that have not been allowed to become functionally obsolete or accumulate deferred maintenance.  

The property you mentioned would be very attractive if your goal was to have 10+ of them but 3/1's are somewhat functionally obsolete for a retail buyer.

It is a nice bathroom, but having just one is sort of functionally obsolete.  

Is there going to be a buyer for a repurposed, functionally obsolete structure.  

This is the 2011 edition of the Virginia Landlord Tenant Act, so it is not something that should be obsolete.  

I can see removing gas supplies in bedrooms since they're obsolete, but I wouldn't absorb that expense on a "what if" when it's common practice to use gas for cooking. 

Are the lower end of those ranges homes that are outdated, functionally obsolete?

More options are coming on board that make some things obsolete. ie: Flat Screen Tv's fit anywhere and are in kitchens, bedrooms, garages etc.

. :)They left the broker world about 5 years ago, their on the job experience is obsolete.

wow sounds like if the units are worth 90k and you need 150k.. something is goofy.. you have a functionally obsolete building that should be torn down.. and rebuilt. ?