They need to be tore down or remodeled badly.

She and I have similar tastes and she sees the vision of a remodel well and knows how to cut costs to make a property look nice.With all of that said, I appreciate this site and the content it contains. 

If it needs remodel then that brings price down.I consider true cash flow to be rent - 30% (vac, maint, and cap)-PITI = actual cash flow.His numbers don't have any vac, maint, or CAPEX built in.

I personally manage the remodeling which included, the dining room, adding an extra bedroom, closets, and rewiring.

My wife and I completely gutted and remodeled our home.

More specifically who do I contact to remodel?

If I sharpen my pencil I can do the home/lot for less than $170K.I used to remodel and have designed and built a few homes. 

Paid $117k, $10k renovations, $140k appraisal. 30 year fixed conventional loan with a balance of $110k.My business partner just moved in with me but we want to purchase a triplex or quadplex that we can do a live-in remodel and then house hack it.I am going to keep the condo to rent out (estimating $200 cash flow when all said and done) but want to sell half of my equity to my partner so we can manage it together like we will manage the new property together.How does splitting a property work legally if it is already in my name?

Mine are some of the nicest ones in the area because I've remodeled them.

I decided to order an Appraisal for $275 and asked them to give me the value of a fully remodeled unit to see if it makes sense.