However, once you add in framing to insulate I can't imagine that you'll be very much ahead in terms of budget verus a stick built or manufactered home.

I would look at how well the sound insulation is.

Horsehair plaster, poor insulation, crappy windows, 2×4 sidewalls...

My general estimates are at least 10k for the crawl space clean and insulation and probably another 15k on the roof.

It adds R-value leaving it there and will not cause any resale problems.Another area you will find asbestos is in the insulation around furnace ducts and water heaters.

I'm a Rochester guy, and we seem to be very well insulated from the rest of the market: we never boom, and never bust.

Your value is going to come from the yield and the equity insulation in the deal, both of which you seem to be in decent shape on.It does seem like you are underwriting this with your own takeout as selling off the note.

Answer: The market here in small town IA is pretty well insulated from the major volatility, so I'm confident that the equity will remain or likely increase steadily.

Putting another layer of drywall or sound insulation is not enough.

You might need new wallboard, studs, insulation and more.2.