ie, wind damages the roof and that lets in rain that damages sheetrock, floors, furnishings,...   

roof? 

some roofs, tree damage and trash strewn around. 

Right now the only utility at the garage is power so basically I am starting with a frame and a roof. 

Here's the details:ARV- $210- $220KRent: about $1,900/month3 beds/ 2 bathsNeeds: New roof, New HVAC, New fence, Minot touch ups inside like paint and cabinet touch ups.Rehab- About $40kI offered $140K and he countered with $190K.

My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

I'm thinking that repairing the plumbing leaks and getting the soil dried out could be a permanent solution.   

We currently have roof done and siding up. 

There are never full photos of the mechanicals and basement and roof line so you will never have even a bare inkling of what the potential repairs will be.

I did minor improvements to both of those, but unfortunately had to replace the roof on each (Flat roofs suck, lesson learned).