This could be a bid from a contractor to fix items such as roofs, driveways, plumbing, etc or it could be financial numbers showing their income vs comps of other recently sold, to show why your valuation is far off. 

I had some questions for the sellers about how long term the tenants were as well as some major capex questions due to the house being 100 years old (concerns about condition of slate roof, wiring, plumbing, etc.). 

Floors, drywall, electric, roof, maybe plumbing, but I’m no expert and can not evaluate these things myself.

This will help you get a better idea of what tile, hardwood, carpet, plumbing fixtures and light fixtures costs for your rehabs.#3 Contact Local Contractors for PricingCall local Subcontractors and get budget pricing for common repairs on your typical rehab project.  

Most flippers in Milwaukee make only 10-20% gross profit - and they usually don't touch systems that have some life left and will pass inspection (like plumbing inside the walls), which as a long term owner you want to take care of as long as you have the walls open - and not come back in 5 years and rip out the brand new kitchen..   

If you aren't moving wiring or rerouting plumbing, a license just isn't needed.

His prices do reflect his delay, they are reasonable as long as you don't factor in the cost of your time. 2) Ken Herbert Plumbing (Google Them).

There are so many other items in an unit that the reserve should pertain to including appliances, roof, electrical, plumbing, etc.So my question is, how do people justify $300 per unit annually for reserves and what do they expect to capture in that figure (versus just including it in repairs).

A hydrostatic plumbing test is recommended to be performed by a licensed plumber post Foundation work.

The property I purchased seems to have updated plumbing and electricity.