Old electric, just all the issues.

A good rule - as long as the plumbing and electric has been updated, a well-built home from the mid-20th century is a better investment and will likely outlast a newer build.Credit to the respective author

It's very similar to a bug bomb. 

I am building ground up so any contractors that do framing, plumbing, electrical, roofing, etc.

So even if it’s fully gutted, no water, electric etc, that’s all within the scope of a 203k. 

Purchase price: $205,000 Cash invested: $27,112 Bought for $205,000 in the Maine-Endwell school districtMonthly rent (pro forma with 3 month stabilization) $4,800Taxes: $9,238Insurance: $2,642Gas/electric: $0 Water/sewer: $2,451Total expenses: $14,280 I used a conventional 10% down.

FEMA rental Assistance covers the cost of monthly rent and essential utilities, gas, electric, water, trash, and sewer.

Document the condition thoroughly for future reference and estimates.If the property is of interest, it’s crucial to have professionals assess potential structural damage, electrical issues, or mold remediation costs.

A 1920s home with new plumbing, updated electric, and a new furnace might be in a better position than something from the 1990s.

They could afford their own 1-bdrm apartment, plus electric, heat, cable, snow-clearing, etc.