The home will need foundation worknew plumbinga new furnacenew water heater new insulation massive cosmeticsI am worried about the water line coming into the house and the swer line going out of the house since it has been vacant for nearly 30 years and what surprises might be buried.  

If you buy it right, you will have plenty of margin of safety to insulate you from and even opportunitsticly take advantage of short term market fluctuations.

Once the home had a contract the termite inspection found wood rot beneath an exterior door hidden above some insulation in the crawl space (additional expense to the investor).

Fully insulated 2 car garage.

Modular.. precast... stick frame... sips (structural insulated panel system ??)..

This insulates you from a down market.    

Anyways I can however give you exact numbers for the contracted items. keep in mind this was only a 750 sq ft house too.Contracted Items:Roof: $4,100Steel high quality Siding from ABC seamless (3 sides only): $6000New paved driveway with retaining wall: $4,400New furnace and some duct work: $4300New gypcrete poured on entire Slab to level floor: $2,300Gutters were included in the siding jobTape, Putty and Patch work on the entire interior: $2000New blown-in insulation and baffles: $1,100My work (materials Only (give or take)):Windows $2500Laminate flooring from Costco: $1200floor Tiles on sale at Lowes: only $50!

With more units, you are insulated from having to cover the entire debt service yourself when you carry vacancy.

Thanks city of Milwaukee, another 10k price drop to accommodate new hvac, going from the boiler system to forced air.All in all the work done to the property included:27 new windows2 new furnaces, ductwork and water heatersNew PEX plumbing along with accompanying fixturesDrywall work and insulation to remedy water damageNew roof (6 layer tear off)Refinished hardwood floorsNew cabinets, countertops, etcGutted bathroomsPaint abound Etc, etc, etcBeing the largest project I have undertaken, I ate two months of holding costs in getting the property ready for rent as I grossly underestimated the amount of time it would take to get the property ready.  

It will need a new roof, electricity brought up to code, hooked up to water and sewer, insulated, and heated.2) Turn the attic of the house into a 3rd bedroom with a bathroom (around 200 sq ft of usable space) and possibly a new staircase that isn't so steep and maybe with a separate entrance from the main house, if possible.3) Build a tiny/small home in the backyard (300 sq ft or less) and rent that out as a STR, but it would also need to be built to code and hooked up to water and sewer.Once I'm making a profit of some sort, depending on which option I go with, I'd like to start fixing up the main house.