The tenant pays and I feel like I have an edge, even though I dont think the info presented is thorough enough (its still better than what I could find in my valuable time).I had one very suspect applicant, who sounded good but questionable, fear this background check because they were in the process of "re-building" their credit, so they wouldn't be able to take another inquiry hit.

Some of these cities are rebuilding, eg bringing a lot of new industries into the city.

It would have needed a total tear down and rebuild, which killed the budget. 

That way I am able to zero in on deals when they come up.Any help would be much appreciated - especially also on repair estimates, rebuilds, etc. 

The garage on one property was in such disrepair, that I recently spent nearly nearly $10,000 to entirely tear it to the studs and rebuild it roofing and all. 

My father has said he has no interest in building or rebuilding on either property. 

People that walked-away or short-sold their home 7 years ago have had 7 years to rebuild their credit.

Property InformationPurchased for $68,000 (maybe worth $72K)1790 sqft duplex built in 1972Both units are 2 bed / 1 bathExterior: mostly brick veneer with a bit of vinyl sidingFlooring: tile in bathrooms, cheap laminate everywhere elseWalls: 1970's wood pannel throughout, but mostly tiled walls in bathroomRoof: shingle (not sure of the type), inspection said the roof is on the "second half of its life"Foundation: crawl-spaceInsurance Quote (if I lower the dwelling coverage)Calculated Rebuild Cost: $201,000Dwelling Coverage: $153,000 (I lowered it as much as possible)Personal Belongings: $2,500Other Structures: $15,300 (can't change)Personal Liability (each occurrence): $300,000Medical Payments to Others: $5,000Deductible: Other Covered Perils / Wind and Hail: $2,500 / $2,500Annual Premium: $472.55Insurance Quote (if I don't lower the dwelling coverage)Calculated Rebuild Cost: $201,000Dwelling Coverage: $201,000 (didn't lower it here)Personal Belongings: $2,500Other Structures: $15,300 (can't change)Personal Liability (each occurrence): $300,000Medical Payments to Others: $5,000Deductible: Other Covered Perils / Wind and Hail: $2,500 / $2,500Annual Premium: $587.36

Then depending on extent of work can range from $10-20K up to $50K for repairs (or even tear down and rebuild).

I would need a property to be mostly turn-key and cash positive and if it appreciates wildly in the next 5-10 years, I can make the call to demolish and rebuild.