Quote from @David Robert: Quote from @Jaycee Greene: Quote from @David Robert: I recently became aware of a very cheap property (roughly half of after repair value) and upon looking at it in person I found out why it was so cheap: there is severe cigarette damage throughout the 1st floor (basement less so, but not entirely without damage); there is visible dripping tar on every wall and the smell is awful.

Land generally retains value, and structures generally depreciate to zero. 

Looking to remove knee wall and carpet from staircase and add stained treads, handrail, balusters, etc. 

Seller retains full ownership. 

My rental condo in Asheville, NC was spared damage from the flood, but when the city finally turned the water back on a few days ago, they somehow overpressurized and blew out a fitting inside a wall. 

Common fees will include a set-up fee, a leasing fee for each turnover or a lease renewal fee, marking up maintenance, retaining late fees, and more.

Second, most tenants are lucky they can dress themselves in the morning, much less paint walls without destroying the floors, ceiling and trimwork.

Boot includes any cash retained or the difference if the replacement property is of lower value than the relinquished property.

Quote from @Joshua Nichols: Quote from @Jaron Walling: @Joshua Nichols I'd take @Travis Timmons advise to heart and think about the challenges associated with flipping RE.

During demo, if they open up a wall and find a leak that requires a change order. the change order should be specific to that repair and have a cost associated with it. 6.