You can include moving and storage costs in the charges.

I pay $875 (including principal, interest, taxes, and insurance) and rent it out for $1,625.

We as tenants had to acquire a shop vac and clean it ourselves, including dragging rugs full of filth and animal hair to the dumpsters.

We typically pay somewhere in the range of $3500 for a new, basic furnance, including install, if there are no other modifications to the system required.  

Yup, JUST LIKE EVERYTHING ELSE INCLUDING RENTS. 

I included a link below to your state's association with all the requirement info.Keep in mind that getting into Real Estate is not a cheap adventure. 

Since the property is a multiplex- I am assuming the unit mix includes multiple units with the same floorplans. 

I was chatting with some of my lending buddies at big banks and they are all backing away from the CRE space including office because operating costs are increasing more quickly than rents.

Again, if your $250k is true, and includes all the electrical upgrades, new plumbing runs, potentially new foundation pour (since I assume the existing garage slab is not capable of supporting a new two story house), I am guessing since I don't know the market, but assume you will have a lot of equity by completing the project.

However, deeds in lieu of foreclosure can be subject to judicial attack by their grantors and their grantors' creditors.Grounds for attacks on deeds in lieu of foreclosure include the following:• That the deed was an equitable mortgage - that the parties intended the deed to be given as security for a debt and that the deed was not an absolute conveyance.• That the deed is either a preferential or fraudulent transaction within the purview of the provisions of the federal Bankruptcy Act or any other related state law.• That the deed is a device to clog a mortgagor's right of redemption.• Unfairness of the consideration.• Coercion, fraud, oppression, duress, and undue influence.• That the deed is not subsequent to the execution of the mortgage but contemporaneous with it.• That the grantor/mortgagor was insolvent at the time of the execution of the deed.An estoppel affidavit (executed and acknowledged by the grantor/mortgagor, attesting to the fairness of the transaction, the consideration exchanged, the value of the property, and other factors showing an intention to make a genuine transfer) or a recital (inserted directly in the deed) are supporting documents used to forestall challenges to these transactions.State law and local title standards must be consulted in regard to the consideration and treatment of deeds in lieu of foreclosure.What a GREAT post!