----I do have a 'rental' in Joshua Tree House....

@Jose Almonte  In the multiple states, where we have rental houses, the tenants pay for all utilities, shovel the snow, mow the lawns, and take care of minor maintenace. 

I've been in construction for 25 years so I know a thing or two about renovations.  

Me and my wife are planning to purchase her mom's house. 

We build houses; rehab houses; love our neighbors; and wouldn't think of living anywhere else. 

We've come to realize that the Boston market is too tough and the numbers don't make sense (to even house hack), so just recently, we decided to hone in on Plymouth, MA... with the idea that it could be a good tertiary market to do furnished rentals (thinking short-term/AirBnB in the summer, and mid-term in the offseasons).

For a $100k house, we can agree on payment terms and pay the seller $120k over time.

Yes, the spring/summer season sees demand ramp up, but that doesn't mean a house listed in December won't sell.If you buy in October/November, chances are you won't be listing until January, anyways.If I had a house completed on, say, December 15th, I would likely sit on it through the holiday season before taking it to market, but I would talk to realtors.  

On one lot, he has his house.

The house is 1,800 sqft.When it comes to a cigarette smoke-filled home, combined with the need for a rewire, I am assuming the correct answer is to perform a full gut, right?