This ceiling tile is there to cover up some ugly electrical work.

If you have an old roof you better use a higher percentage for cap-ex if you just replaced all the plumbing, electrical, roof, heaters, ac units, probably not so much but still be conservative.

For example a dated kitchen with walls yellow from cigarette smoke and a 60 year old oven is fine, a kitchen that you can't cook food in is not fine -- even if it is otherwise modern, new, and clean. 

My duplex is okay per zoning and was originally built with 2 units and is metered seperate for both electrical and water. 

Scott,There are several items that you need to think about; common area cleaning, common area utilities (electrical at least), laundry room upkeep, fire alarm servicing and possibly monitoring, etc.

I spent the weekend cleaning it and getting a solid game plan in place.I am looking for suggestions on good roofer and a good plumber.The house is only 900 sq ft.  

City water and sewage, which I pay for both units, seperate gas and electric.

Here are the numbers:Purchase price - $210,000, with $4000 put in escrow by the sellers for repairsDown payment - 10% / $21,000Closing costs - $5000, about half in closing fee and half in pre-paids (taxes, insurance)Total cash out of pocket - $26,000Renovation costs - $23,000 ($4,000 paid from escrow), for above-mentioned work plus new central A/C and new electrical panel Furniture cost - $8,000. 

All rents Gross + City Tax + separately metered for electric.  

It’s a 2 bedroom 1 bath she pays $600.00 plus electric.