BUT, the shingle manufacturer requires a nailable surface, which a rotted wood board is not, so they are required to pay for it under that.

Plan is to wall it off and convert to a 4br/2ba,  update existing bath and kitchen, new floors,  interior and exterior  paint.

When these posts surface there are two camps who chime in.  

After moving out, we re-stained the front porch posts with a darker stain (photo is pre-stain), replaced the front door, did touch-up painting on walls and trim, installed new keyed-alike locks on front/back door, and installed a vented bathroom exhaust fan that wasn't there prior. 

Yes, look at properties in Galveston, 6102 Sea Wall Blvd, Galveston, this complex allows STR's, we can do STR no seasoning DSCR loans if you are interested.

Finally, you will want to seal up the walls about 3' or so with Kilz or Shellac ( I prefer pigmented shellac as it seems to work better) Another thing you can do is go through with a black light at night and run it along the walls.

Purchase price: $179,000 Cash invested: $15,000 Lived in the property for 1 year.Knocked down living room wall, replaced Hvac, floors and gutted and remodeled the kitchen, attic insulation, converted the living room and the dining area into rooms.

None on ceiling, walls, bathroom, etc.

There could be reason behind this, but on surface, this is low.As noted above, severely negative leverageNo stated pref, so I am assuming the 80/20 split happens right awayProjected returns are okay.  

I immediately printed out your template message and taped to the wall next to my desk.