Another notable point is that the owner now owns the deed free and clear so there is no outstanding mortgage obligation to her.The last thing is that the building had been on the market for over a year and was originally listed for 149K and she has been methodically reducing the list price by 10K every 3 months.  

We added 800 SF and updated all electrical and plumbing and completely renovated with contemporary elements typically not found in historic neighborhoods, such as open floor plan, large closets and master suites (both up and down) and gave the house a modern aesthetic. 

We are contracting out the electric, plumbing, and HVAC.  

Hello, I could use some guidance, My mother was left two properties with 5 apartments here in rochester byShe's owns them in part with family and is trying to manage them There is extensive plumbing damage as well as needed updates She had no credit or moneyAny ideas as far as private funding for renovationsShe owns the properties outright there's value in them Wouldn't need much 20 or 30k

I plan to hire out the plumbing and electrical and do the painting, tiling and flooring myself.  

It most certainly is not a method of analysis on which you would base a purchase decision - for that you want to breakout your favourite slide-rule, or spreadsheet, and carry out a full discounted cash-flow analysis of the property over a projected hold period.If not already in your library, I would suggest picking-up a copy of @Frank Gallinelli's "What Every Real Estate Investor Needs to Know About Cash Flow" and working your way through it as a starting point to property analysis.

That's more than the 1%We also self manage and do most of the repair work  and the handi man work and the plumbing work and the kitchen installations our selves.

Be professional, carry yourself in a mature manner and be methodical in your ventures.

If you're not doing anything structural, changing out plumbing or electrical or hvac you should be able to finish up cosmetics in a week maybe two at the most in one unit.

Sometimes the simpliest marketing methods work the best.