Property InformationPurchased for $68,000 (maybe worth $72K)1790 sqft duplex built in 1972Both units are 2 bed / 1 bathExterior: mostly brick veneer with a bit of vinyl sidingFlooring: tile in bathrooms, cheap laminate everywhere elseWalls: 1970's wood pannel throughout, but mostly tiled walls in bathroomRoof: shingle (not sure of the type), inspection said the roof is on the "second half of its life"Foundation: crawl-spaceInsurance Quote (if I lower the dwelling coverage)Calculated Rebuild Cost: $201,000Dwelling Coverage: $153,000 (I lowered it as much as possible)Personal Belongings: $2,500Other Structures: $15,300 (can't change)Personal Liability (each occurrence): $300,000Medical Payments to Others: $5,000Deductible: Other Covered Perils / Wind and Hail: $2,500 / $2,500Annual Premium: $472.55Insurance Quote (if I don't lower the dwelling coverage)Calculated Rebuild Cost: $201,000Dwelling Coverage: $201,000 (didn't lower it here)Personal Belongings: $2,500Other Structures: $15,300 (can't change)Personal Liability (each occurrence): $300,000Medical Payments to Others: $5,000Deductible: Other Covered Perils / Wind and Hail: $2,500 / $2,500Annual Premium: $587.36

Homes with EFIS (type of spray on siding) or Asbestos shingles or siding9.

Look for deferred maintenance, like curling roof shingles, rotting window trim.

Does that mean just old, or broken and missing shingles, or "some" leaks?

As for the structure right now is exposed brick with a shingle roof.

The even come with the siding, shingles, door, windows, etc.Go to http://www.carterlumber.com/services/kits-package-estimates and put zip 48185 just as a reference to see what prices we get here

Here's some stats: 2000 square feet, 3 bedrooms, 2 bathrooms, 2 car garage, roof is aslphalt, exterior is cedar shingles.

The paint was chipping off of the wood siding,  the roof has a couple shingles missing, the fuse (not breaker) box had pieces of wire that had been poorly installed to add exterior outlets to the house, ugly old carpet, peeling linoleum, dated kitchen, etc.... then we find out the lot comes with 2 houses.

Ask age of roof shingles/metal obviously. 

This weekend I plan on getting the new section of roof felted so its dried in, and start tearing off the shingles on the old roofs.