That in fact can be better than an option. 

Sometimes I float verbal offers just to make sure it will be worth writing up an actual offer, but I would never consider a verbal agreement anything more than an opening up of negotiations.

For someone exhausting their funds to buy a home that appears to be in move-in shape, it may be a big gamble.

This can be a dangerous situation since intake air for combustion can then start being pulled in via the chimney / exhaust; that also starts to hamper or even suck in exhaust gases.

While large renovations come with their own headaches, its still much easier to fix a single house than an entire neighborhood and the upside potential for both strategies is similar as far as a return on investment is concerned. 

To be blunt, what you are looking for... is what nearly every other investor is looking for, hence why multifamily in the Raleigh-Durham market has been really overvalued as of late.Originally I was looking for MF as well but pivoted after exhausting myself running numbers and trying to get blood from a stone, I think the saying goes. 

Tenant agrees to provide Landlord with updated vehicle identification information (year, make, model, color).Motorcycles must have exhaust muffling comparable to that of a passenger car.Vehicles must be no bigger than would fit in a standard parking space.All vehicles must be both operable and properly licensed.VEHICLE PARKING.Parking on premises is for Tenants only, not guests.Tenant agrees to keep parking spaces clean of oil drippings.

But my budget is exhausted  after buying and still need contractor work to change flooring, painting, kitchen remodel.Also wanted to ask you in future if I want to demolish the old kitchen and build in new place do I need to take permit for that?

If you buy turnkey with cash, your cash will be exhausted and you will be making hundreds of dollars per month and not thousands.  

I'm struck by the exhaustiveness of the site and the number of individuals who are willing to lend their expertise, knowledge and best practices.