@Santhi Mani I probably shouldn’t make assumptions but I’m assuming it’s on town water and sewer.

Are the water pipes in the house large enough, or in good enough shape to handle another bathroom.

So, if you wanted to get all of your cost (rehab and purchase) back from a refi, you can't offer more than $430.The property has good bones like I told you :NO Structural problemNO Foundation Problem I will be redoing all electrical , water/sewage , gas and probably the some thermal Isolation .Brand new kitchen , baths and tiles .Open the Layout to an open concept .So my GC estimated based on his visit on the property that rehab cost would be around 100k to 200k . 

When I purchased the property I knew there was a lot of potential to rent this house on a per room basis but the basement was also very unsafe (small windows, no stove, cooking plates improper fire protection etc) but it did come with some nice features such as a tankless on demand water heater (great for having lots of tenants).

Tenants pay all utilities except water.

If I were to go into the unit the day of closing and the water didn't work and the electrical system didn't work and it did when I did the inspection, would the seller be entitled to my $50K Earnest Money if I backed out of the deal?

I would also be careful that adding those egress windows doesn't create water penetration issues.

BP Fam,The property I’m dealing with has 1/4 of its foundation currently on pilings over the water and 3/4 on masonry.

I have a flip in Louisville KY that we are a few weeks out from putting it on the market, but the past owner has an overdue account balance on his water bill for $300.

So yes, typically you will need all plans signed off on by a P.E.The third common component is a study showing that the additional fill placed in the flood zone by your planned building will not significantly decrease the water holding volume of the floodplain (in addition with other permitted or built fills in the same basin).