they said around 90% of market value.I tried to get them to understand that this property needs a LOT of work, almost a full gut, some holes in walls (small) old carpet needs to be ripped up, i mean like the works on this thing, you can prob get away with touching up the kitchen since its real hardwood and the bathrooms as well but this prop needs at least 80k.Found out owner actually owes 140k on property, and zillow is zestimating it to be 127k.

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

I fixed a leaky roof, revamped the kitchen that time forgot, and transformed the backyard jungle into something a human could actually walk through.

If your tenant starts a kitchen fire and the insurance provider finds out it was a rental, they will deny your claim.Landlord insurance still covers the property, but won't cover your personal belongings since you live elsewhere.

Kitchen and hallway.

A basement with a separate entrance but no kitchen is not considered an ADU, and therefore does not have the 120 day limitation. 

Up north the gas company will install additional meters for a very low cost, usually hourly billed time for the work and possibly low cost equipment.

I plan on doing most the renovations myself which requires equipment (such as tools).

It's been a frustrating experience, but I knew it was necessary to protect the property and move forward.Amid those challenges, I also started a kitchen renovation in my unit.

Both bathrooms need a complete remodel as well as the kitchen, the ceiling in 2 of the bed rooms are bowed (previous roof leak that was fixed) so new ceiling drywall, appliances, flooring, and paint throughout.