Please do your research first, as there are tons of things that can reduce the value of that lot in a hurry, Zonong, permit costs, utility fees past and present, soils, etc, etc, etc.

However, there might be problem with the roof and major termite issue underneath the bathroom, since the wall in the shower was opened and the tenant just put something like a sheetrock there, it wasn't fixed properly, so water can go down and cause major damage to the subfloor or the foundation, which would greatly increase the rehab cost.The tenants have been living there for over 23 years, they don't want to move, (a couple in the 50s with the dad in his 80s) so they don't let me in to do the inspection.

The septic could be fine asis could have a leaking tank that is not to expensive or could need a full replacement that could get costly depending on type and the soil on the property.

That is the state that you will be paying tax in AND registering each year in.The LLC is for protection, that mean you need to consider that doing too many activities underneath it can be treated that you were not acting as though it is an independent entity.

On my own house I removed the gutters except for above the front door, but we have very sandy soil so drainage is not an issue.

I'd kill to have hardwoods underneath that I could simply refinish.

Strange so much of it isn't even on our nation's soil.

Hired contractors to remodel the basement and fix many other issues this old building has, including a slightly tilted front porch due to the expansive soil in the foundation.

You'd need someone to look at the specific house, be able to figure out what's underneath and what would be invovled in putting on a stucco coat, then get pricing.

In Willamette Valley of Oregon with best soils and irrigation can get about $250 - $350 per acre/yr.