This was because he found some significant differences in grades in certain rooms in the house.

As a matter of fact, I interact with out of state investors so much that a little over a year ago I created The Ultimate Guide to Grading Cleveland Neighborhoods.

If condensation builds up outside the plastic you have an existing moisture problem in the basement and the air in it (dehumidifiers).No matter what you do in the basement you'll want to address the gutters and the grade.

They are hands-off, institutional grade real estate investments, and they allow you the option to diversify.

The lot itself is also much more steep than I anticipated and would require considerably more grading and retaining wall than we care to take on. 

You don't have to follow the pattern (go to school, get good grades, get a good job, keep your head down, put money into a 401k, use investment bankers, and retire). 

I don't think you should count 'grading, removal of bamboo' as a landscaping item.  

I agree with @Andrew Davis as it is very easy for a broker to claim bad management and up grades as the cause of low occupancy.

Unless I could partner with a builder and not have to use hard money.Also about 1/4 acre of the land would need to be cleared and graded, I had one guy quote me 15k to do this.

@Rocky Griffin, actually I got a pharmacy student in there who has 2 years of school left, so I imagine she will likely bet there for the full 2 years.