One my personal houses I had to do $2000 worth of drainfield upgrades to pull a permit despite the fact that the drainfield was working fine, building codes had changed.

How would a HELOC work in this case I’ll give someMore info below4 unit Lewiston Maine. 3 , 2 bedrooms, 1 commercial space.Purchase $155,000So obvi seller financed $135,000 I put $20k downMortgage is $1366.81 monthly With the way the market has grown here, and with the rents I am now getting and upgrading as we speak, current market value probably puts this place around $175-190k.

The $14,000 was a 3,100sf home, all new wiring, 2 new interior panels, new exterior panels, new pole and upgrade to 200 amp service, lines for 3 HVAC units, permits pulled & rough-in through final including installation of all fixtures.

Don't do upgrades just to be nice.

Don't do upgrades just to be nice.

Sure, put in the money it takes to keep the place running day by day (i.e. operating expenses), but avoid major capital upgrades until you have title.In the end, it's going to be the Buyer's responsibility to list the risks, assess the likelihood, and take reasonable preventative measures.  

I was trying to upgrade my business model to 100% ceramic tile floors and shutters.  

He can pay for the electrician to make upgrades if it's that important to him.As you grow, it's important that you not tailor your policies and procedures for each individual.

That leaves almost $32,000 in cash flow per year. 3) That amount of cash would allow you to pay off the building in full, take care of CapEx, and/or set aside a decent amount of money to do the upgrades needed if the tenant leaves. 4) When a tenant leaves, you often have the opportunity to increase the rent or re-purpose the building to us highest and best use.

Upgraded the kitchen, bathrooms, and windows.