2) Their contractor must be properly licensed and insured and we require copies of all this.

I have been told by a contractor that the foundation of the building is intact, so it does not need to be torn down but requires a "gut renovation down to the studs."

It sucks but that's what is required when you own property.

OP, keep in mind not having access to heating and sharing same water heater and etc will require an easygoing tenant in the nextgen.

Keep the wood (or sheetrock if you choose) an inch or two off the floor to not wick water.

For example the license should not only have a cost but also require at least some compliance training targeting some of the most common issues/complaints.

I'd hate to see you lose all your belonging to water damage Ms.

Water galore.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.