The house needs heavy renovations3. 

Purchased home with potential upside in hoping to force appreciation in the house in order to create equity and eventually utilize the equity (HELOC) to begin investing in other properties.

The EPA is hoping  owners will investigate and identify the pipes on their own, report it to their utility provider for tracking, and then the EPA can obtain funding for replacement.

Unfortunately there's a lot of alarmist/scare tactics utilized to upsell these services that do nothing but generate revenues for those who are selling the service and often leave the clients with recurring expenditures i.e  annual maintenance costs.  

That’s before factoring in utilities or each personal situation.

Does it have shared systems you have to manage or separate utilities for everyone? 

So in this situation, where you have a relation with the borrower/home owner it is likely safe to assume if you get too greedy and ask for a heavy discount there will be no deal.

Furnished Finder does make it tricky since you need separate profiles for each room, but platforms like Apartments.com or Airbnb might work better if you're aiming for full-house rentals or structured by-the-room arrangements.If you decide to rent to multiple individuals:Tenant Screening: Screen each tenant thoroughly to ensure they’re reliable and responsible.Clear Communication: Introduce potential tenants to one another Detailed Agreements: Use separate leases for each tenant and specify shared vs. private spaces, utilities, and maintenance responsibilities.House Rules: Create clear, written house rules to prevent misunderstandings.Inventory Tracking: Document everything in the home (furniture, appliances, etc.) to avoid disputes about damage or missing items.Also, market your property with its flexibility in mind—like proximity to hospitals for traveling nurses or universities for graduate students.

@Chirag Mehta For construction costs, you should be around +/- $100 PSF which would include all sitework, utilities, and going vertical with modern finishes.  

For example, in some cases even when the home is livable a seller might turn off utilities on a vacant house to save money.