Yes there was some extensive foundation work done 2 yrs ago.

If you rent it make sure they know it is for 1 year and no extensions. 

City Sewer connection can be very extensive, compare to yearly cost, try multiplying for 10 years cost versus connecting (if available) to the city plus seweage charges.

I work with many investors, and I have an extensive background in commercial real estate operations, management, and sales!

Commonly, the terms of a LOI are the address and general description of the property, the purchase price, the down payment (if a loan will be used), seller finance terms (if any), the title and escrow company, the earnest deposit amount, the due diligence period, the closing period, any extension that are allowed (paid for or not), language to address the POHs (if any), commissions, 1031 exchange (if any), timing for delivery of the PSA upon agreement by both parties, and expiration of the LOI.  

I have an extensive background in construction as well as a general contractors license in CA. 

On some of my properties I own I did extensive rehabs (bought crappers and fixed them up) and the insurance company I use gives big discounts for redoing these items.

I did extensive research on my neighborhood and nearby towns that it's worth investing into our fixer upper which should be able to be resold at a great profit. 

At that time, the landlord agreed to pay for the roof, a heating system and a cooling system and rent below what was agreed to in the prior extension.

Once the leases are up(one in March and one in April) we explained that we planned to do extensive remodeling.