The house needs a lot of work with repairs and upgrades.

They city will red tag it and require you to upgrade everything and get a Certificate of Occupancy before you can rent it.

We made to make some upgrades to cover the number of people but haven't had any issues other than normal maintenance yet. 

Some of these areas still have homes in the price range you’re looking for, and they may have good rental potential after some upgrades.4.

Upgrades throughout the years What was the outcome?

This, let your rental pay for the upgrade during down season. 

Does the tenant pay for the utilities as of now and you are simply upgrading the system? 

I upgraded to premium listing on Zillow rentals.

It would be like charging you for a full remodel property rather than a hovel, because its highest and best use would be a swanky modern house despite never having upgraded it.Ask 2 / Costs & Risk Involved: I need to calculate the impact of what a lot split would entail.

We did upgrade to his middle package so we would be in on both performing and non performing so I may be biased, but I think this program has expanded our thinking and allowed us to do more deals and be more profitable.Personal Note:  Our most profitable deal to date closed two weeks ago while we were in the Midwest meeting with potential partners,  It was a non performing note that spent almost 2 years working its way through the IL court system, we were all in for about 25k and netted 60k at closing.