If you buy the 16,000 you have to develop out the interior space and be head of the association as majority owner.I have been out there before and walked around.

Immaculate condition, almost everything new, including kitchens and baths, all new replacement windows, hardwood floors professionally refinished with 4 coats of oil based polyurethane,all new wiring and electrical panels (all knob and tube eliminated), new plumbing and washer dryer hook ups in each apartment, new interior and exterior paint 2014/2015, newer cast iron boilers, 1st floor has additional natural gas fired high efficiency Rinnai direct vent wall furnace, State and local fire code compliant with all new 90 minute fire doors and modern whole house fire detection system.

Property was appraised for $725k, but I more conservatively knocked it down to $700k.I suppose the expenses were typical since it is an older home.Much of the interior is outdated, but works.

The property is in good condition but will need a full renovation.I'm looking to get quotes for the whole interior:- New kitchen including cabinets, counters, floors, and built in appliances- Taking down several walls some of which are load bearing.- Vaulting the ceiling.- New bathrooms and expanding the master bath- Possibly finishing the basement to include entertaining space and another bedroom I'm open to suggestions for contractors who will do any and all of the above.- Dave

So I just assume: $5/sq ft for flooring$2/sq ft for interior painting$2/sq ft to retexture ceilingsI took a few people's checklists to create my own for the property I target.

The couple recently "gutted" the house in preparation for a full interior renovation. 

 :)  Interior paint for the whole house: $7,000, etc.I just memorize a few major items, and that will help me to make a decision if I want to see the property or not. 

It needs some interior lipstick and the house will compete with houses that have sold for 35% more.  

My wife and I have jumped in head first, our first deal was a complete interior rehab project.

Then look at all other bills, such as common area expenses, such as hallways if interior and lawn maintenance, utilities, taxes and insurance.