We are in a vacation town and airbnb apartments are doing well here) 2BR: $1200 (basement apartment. probably capped at $1200) 3BR: $1700 (potential for raising to $2000) Two 1BRs renting at $875 (we think rent could easily be $1000-$1100) Taxes $9300 (ughh, Vermont) Insurance $1600 (might be a little more since we'd be owner occupied and current owner is not) Heat $1878 (current owner pays heat- place has new windows and new insulation in basement apartment.

Took a long time for the insullation to lose the smell.    

.)* $550 Sump pump* $175 Landscaping (trimming, mulching, fill dirt)* $50 Safety (CO & smoke detectors; fire extinguisher)* $70 Utility costs during rehab $230 Misc (plywood; insulation)* $250 Tools/Rental equipment $550 TOTAL $27,720 *DIY jobs; the cost listed is for materials onlyI’m disappointed that we came in about $2,700 over budget, but the unexpected cost of replacing both bathtubs was mostly to blame.

Besides, what @Sean OReilly is saying is that it will at least insulate him from volatile energy costs.

Insulation needs to be redone.- Two attic rafters?

I upgrade to 200 amp, insulate, replace dated light and plumbing fixtures, replace the roof if necessary (or budget to replace it if it has a few more years on it--I just don't wait until it starts leaking), fix any drainage issues, replace windows (maybe 75% of the time), make sure doors/hardware work properly (I install hinge-stops and/or those round plastic bumpers that affix to the wall so I never have wall/door damage), limb up or remove trees, and of course give it a thorough cosmetic upgrade so it attracts good tenants.

There wasn't any insulation, the floors were down to the foundation, the stairs needed rebuilt.

Here is what it needs and my calculations for investment analysis.Needs a new roof, new windows, flooring throughout, new insulation in the attic, update kitchen with new cabinets, refrigerator, painting and other minor repairs.  

I worked summers with him, replacing roofs, insulating attics, and from scratch--building homes from the ground up. 

I worked summers with him, replacing roofs, insulating attics, and from scratch--building homes from the ground up.