I do plan to hold it in an LLC, have good insurance and umbrella as well. 3) Older homes in PS - most of the homes in PS are built in the 40s-50s and for those that own them, do you constantly run into issues with major ticket items - plumbing, electrical, etc (things that are not visible to the naked eye).

Unless there is significant equity in the property 50% LTV may not be enough to payoff the current underlying mortgage.Now here are the exceptions to lift the COB 50% limited LTV restriction:- you inherit the property and it was transferred into your name either via legal award from a domestic partnership/marriage - you have been on title for 24 + months- you took title to the property that was transferred from a partnership or partnership like entity (LLC, LP, etc) that you can document the ownership of 25% or more in- you lived in the property and have been on title for atleast 12 months as a primary residence- you have paid the mortgage for atleast 12 months - or you can demonstrate a relationship with the obligator (domestic partner, relative, family member, etc. )If you qualify for one of the exceptions you are not limited to the 50% max LTV  when considering fannie/freddie conventional cash out refinances on a subject to transaction.

It also seems to be more common in some areas of the country more than others (due to much older construction in the region, higher exposure to harsher climates, older electrical and plumbing running through the home, etc.).

We invest in the Indianapolis Indiana market and focus on properties around the $150,000 to $190,000 range that are older homes in good areas that have updated roof, HVAC, plumbing, windows and those type of higher cost items to make sure it has good bones.   

If the two are afraid for their well-being most places have laws in place to protect them by letting them out of leases-given it is usually women escaping domestic violence.

Then you can have the specialist sub pull permits for their work under their license, plumbing, electrical, roofing, etc.. 

Advantages of New ConstructionMinimal Maintenance: New construction means you won’t need to deal with a lot of the usual maintenance headaches—no leaky roofs, outdated wiring, or old plumbing to worry about.

I have heard that heat treatment can damage silicone seals in plumbing.

I'm preparing to repair/replace HVAC and plumbing.

Both local domestic and international insurance at the consumer, commercial and reinsurance levels have been hit with 30 year losses in 5 years.