Quote from @Miguel Del Mazo: It basically says that if the electric bill is twice what the same month's bill from last year was, the overage will be charged as a fine.That's a good barometer actually.

Property details: 3 bed 2 bath both sides with attached garages, aluminum siding, copper plumbing, 1972 construction, separately metered, all electric water heater, range, dryer, public water and public sewer on a slab foundation in a great school district right next to brand new construction everywhere.

I can fix almost anything and have experience with electrical, plumbing, flooring, roofing, siding, drywall, etc.  

I got a very good price on the building (about $25k per door), but it was a ton of work as in addition to tenant issues, there was TONS of physical distress (foundation repairs, sewer line and water line repairs, electrical upgrades, new roof, and apartment renovations needed for all units). 

When we viewed it it had electricity.

@Jewell ArceneauxHow to drive ARV (my opinion)Improvements that drive the ARV the most: Roof, New Kitchen & Bathrooms, Flooring, PaintImprovements that DON’T drive the ARV as much: Windows, Landscaping, Driveway, Rough Plumbing & Electrical

I don’t worry about the electric because I use that for short term rentals.

Unlike a kitchen or bathroom renovation your literally building a second house on the property and your dealing with everything from grading, soils, foundation, electrical, plumbing, framing etc.

They wanted upgrades to electrical panel that was upgraded in 2009 to current code  (arc fault breakers) they said they would walk , I said good bye . 

The plumber’s report indicates that the leak may have been caused by an overflowing tub or sink upstairs, but the tenant in that bedroom denies any such incident.As a result, I now have substantial expenses for the plumber and restoration company, including drywall repairs, painting, texturing, and reinstalling electricals.