For what its worth most deals I deem meeting minimal IRR standards is 13-15% but you have to dig a little deeper to uncover the real placements of cashflows and capitalization events... and then dig even deeper to verify the assumptions such as occupancy, rent increases per year, and what reversion cap rate was used.Again I don't look for IRR cause its manipulated a lot instead I look at total return on a 5 year basis.

Just dig a little deeper on them and you'll normally find these problems

I'll dig a little deeper!

I just found out that due to the new Somerville zoning I can build an addition onto my two family in Somerville!This would be about 600 sq feet. The next thing I’m trying to wrap my head around is do we dig out a new ...

I'll dig a little deeper into this topic as well, and maybe connect with you in the future to discuss this and other related topics.  

As long as you can get it to drain properly, you have no legal requirement to dig up old pipes and update them to new code.Pipe lining requires the pipe to be in reasonably decent shape, so if the pipe is collapsed then you have to dig. As

This property intrigued me so I decided to dig a bit.

A couple of details here that might be relevant.  1: It's likely prohibitive to install an egress window, as the existing windows are way over 44" off the ground, meaning we'd have to dig a hole, tear up the wall, and extend the windows down.  2: The basement has one exit, to the rear enclosed stairwell. 

I do think you might be able to find some better cashflowing deals if you dig a bit deeper (my bro in laws own Fogle Brother's flooring and one of them has deals all the time.

That's where you need to dig a bit deeper to see what works best for your situation, I would not be able to recommend one or the other.