We also insulate you from that headache... that's what you pay us for. 

BUT the risk of needing to renew as markets change are real, I never borrow more than 60% LTV  (thats where im comfortable my banker will give me 75-80% if i want it) lets say the market starts tanking this year and I have notes due to renew next spring, and values drop, there is a risk my loan to value will not be adequate to renew the loan if I borrowed at 80% but at 60% i have some insulation from that.

In one of mine, I was planning to remove the carpet and install vinyl plank, but my handyman suggested cleaning the carpet then laying the floating plank on top (using carpet as insulation and padding).  2.5 years in and so far so good -- definitely softer and warmer than the concrete underneath, and easier to clean. 

Thank you would it cost more then 200,000 to just do the basics like, insulation, electric, roof and plumbing?

Electric heat would be crazy expensive I think due to it being brick and not insulated.  

They are already separated, so now, we are just going to add the doors and some new insulation and drywall.

I am adding value to my primary residence by adding a shower to a half bath and adding interior square footage by insulating the laundry room portion of the garage.

Insulated and heated.

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.