No, no laundry there, but there's definitely space for storage, although the basements were pretty clean, when I did my visual walk-through, before purchasing the 4-plex.

Again, I'm a total newbie so I am well aware there are plenty of things I'm visualizing incorrectly, which is why I'm here asking for help :)

@Elijah FastYour lender and possible your insurer will require a Phase 1 assessment .... this is predominately a visual inspection and paper exercise (costing anywhere from $750 - $2500) with the objective of discovering any potential contamination of the property (or demonstrating that there is none).An abandoned underground storage tank (UST) is something which should be disclosed by the vendor (it appears that it has been in this instance), but it is an example of the sorts of things a Phase 1 ESA looks to discover.Depending on the results of the Phase 1, you may very well be requested to continue with a Phase II ESA.Having a Phase 1 lets you know what you are walking into ... which is why lenders want them.  

or "subject to visual inspection" however you want to add it in the additional terms on the purchase agreement..  

You get a quicker sale because the buyer can literally visualize EXACTLY how the house will look.You'll find REALLY cheap and Nice stuff on Craigslist.com & your price can cover the costs.

I can appreciate the effects of visual deterrence.

Here's a visual. http://www.forbes.com/lifestyle/2005/05/26/cx_sc_0527homeslide_10.html?

If you can visually inspect the foundation at the point the water is entering, you can get a better idea of what is going on.

The trick with all of this cosmetic fluff is to put enough into the house to make it visual attractive to your buyers, but not to go overboard.

With regard to the unit, even for rental properties, I think it's critical to stage the unit with reasonably nice, and color-coordinated furniture that allows the prospective renter to "visualize" living there.