I was just wondering if buying properties and rehabbing them would be a good way to transition into becoming a residential developer eventually?

They have received two blight violations for failing to store trash containers properly, resulting in costs of around $400.

Hi JonathanIm a GC who has done tons of renovations and rehabs in both NJ and PA.

Buy the rock solid rental and get your appreciation, cash flow, depreciation, principal pay down, equity capture on a discounted by and forced appreciation gain for a well targeted rehab.

I currently have a duplex and 2 single family homes but I found a 8 plex that needs some rehabbing. 

My question is if inspection turns up foundation damage will cost much more than what I expect and budgeted for... 

Nothing below 80%, minus rehab. 

The total cost for the renovation was $96,000.

Maryland Dept of Health placed a lien on the property in 2018 for the costs of the care, totaling about $90K. 

I simply budget 5% of incoming rent for maintenance and 5% for future capital improvements and manage the properties as time goes and as things come up.For example, when a tenant moves out, I will look at the property and determine if any rehab/upgrades make sense at that point.