One major component is how we rank our basic needs (after air, food, water, shelter, etc). 

When you make your pre-offer inspection you might see something obvious during that which makes that decision obvious and its age can give you some concerns about reusing the major components that gives you some concern about that which means you will have to remove sheetrock to repair that. 

If you put it under contract have it inspected to determine the current condition and life expectancy of all major components and appliances.  

At the bottom of the cost breakdown page there are General Components; Permits, Termites, Mold, and Miscellaneous.  

@Christy Wright assuming you have the net worth and liquidity and the property is in a decent market you should easily be able to fit into a 30 year am deal with an interest only component.

It is still in exclusive period so you would have to live there for a year.Looks like it needs a new kitchen, plumbing failed and missing electrical components.

Hi Leo,Those on your list are all renovation components that are very difficult for non-professional contractors/engineers to inspect and estimate. 

Also, your realtor should definitely be helping you to comp on this particular property.

You're talking about looking at expected life of some of the building components and depreciating them at different rates? 

Often appreciation is overlooked, however this is a very important component that allows you to re-leverage at the appropriate times to build your portfolio towards achieving the goals of income replacement and wealth building.Keep educating yourself with the knowledge from the BP community.