I'm trying to get the ugly picture in my head.The property needs a gut job full restoration and is surrounded by vacant lots and crummy streets,is that right?

A few years back I restored a very important home in Cobb County known as the Cheney-Newcomer House circa 1856.

GC: Scott Tovin from Ross Brothers Construction Roofer:  German Duarte from Florida Quality Roofing Mold / Restoration: Johnny Mackey from All Dry USAYou can find all of them on google, but if not, feel free to contact me.  

There seems to be no end to the number of folks who get in this without proper consideration.My "expensive" houses that i so lovingly restored and am proud of just don't"cap rate" like the little dinky, inexpensive ones.

Jason Mak we are operating in the class A world, and have written a $200 "Restoration Fee" into our leases.

UPDATE:  After a long week of waiting I finally got news that only the front bedroom took on water and they have a bid for $4500.00 to restore it.  

Great to see you are doing flood restoration.

I should wait for water to be restored before renting it out??

I prefer to not touch them, as I think there is extra liability from renting out non conforming units and they have limited exit strategies, but if I did buy one I not only wouldn't pay extra for the non-conforming additions, but I'd also want a bigger discount such that converting to original and flipping as a single family was a profitable exit, thus restoring this as one of my exit strategy.

I was able to fill each space with photographers, hair salon, insurance agent, recording studio, background check company, cpa, medical massage and a 3000 sq ft floor to a non-profit dance studio.I often bring the group together for happy hours on my dime, networking meetings etc.