Needless to say, the city posted a red tag notice on the door 10 days later and the tenant could no longer enter the home.I can honestly say that the home was safe and I would have no problem living there personally but the city is furious that permits weren’t pulled and this home seems to have had quite a history with the city (not in a good way).

This might be when you get the highest price for your deal that will pull money out of your pocket otherwise. 

There is some water damage from a built in air conditioner and the inside of the house needs to be painted,  carpets pulled,  wallpaper removed in the kitchen and a bedroom,  hardwood floors refinished,  and possibly the dated kitchen updated with new cabinets, appliances and counters.  

Even if you decide to switch the nature of the heating system, you should, and still may well be required, to perform this analysis.A detailed heat-loss model will also help you prioritize and plan improvements to the building envelope - such as air sealing and insulation.A few missing bits of information,  which may assist the BP community to provide you with some helpful ideas, include:size and organisation of the building: SFH, duplex, triplex, etc.

I took a look at it a few months ago and should have pulled the trigger - shoulda coulda woulda.We're in step three of a four step real estate cycle, so if you can hold tight, there will be some opportunities.

With no background in real estate, and surprised by the rapid and unreal escalation of real estate prices, he naturally called me all excited to ask what he should do.

I remember chatting with @Henri Meli about local deals and then he pulled up an alert on his phone on a Durham duplex(probably the same alert most of us received that day). 

Even if the heavens align and you pull it off where everyone is paid and you make a tiny profit they will expect it again the next time over and over.

I am a general contractor in the area, house needs all new windows, and turning 2/2 into a 3/3 and i will be pulling permits.

That means that our options are either to let the lease expire naturally, or to evict the tenant for violating the lease for smoking pot inside / covering smoke detectors and risk having them become a tenant at sufferance or destroying the property.