I think this is pretty highly sought after in this area.(7) Electrical- Needs to be upgraded to 200 amp service.

This is the best way to determine if the extra upgrades are needed for appraisal.

Prior to inspection the buyer asked if the plumbing was upgraded and my realtor replied that "some plumbing was upgraded and some is old" not specifying which rooms are updated.Buyer claims in the letter that he had no reason to expect problems with workmanship.

Then, you can sell and upgrade if you want.   

So, I can renovate any property in the US to move in condition by doing a cosmetic upgrade for $XX depending on the size of the property.This is just step one to get to an offer stage...you'll need to bust *** in due diligence to confirm your assumptions...a great agent can be your best asset here...or your contractor network.Unfortunately, the real solution is a wildly complex algorithm that will only get you marginally better results...remember, acquire properties by going through phases...phase 1 is getting comfortable with an offer based on what you know after the first filter...entering due diligence is where the real work starts. 

Purchase price: $1,053,000 Cash invested: $153,000 Vintage duplex upgraded with modern electrical and plumbing.

Typically there is no grandfathering when you are doing any major upgrades, conversions or anything that changes the occupancy/use of the property.

I would say a small percentage maybe around 15 to 20% are upgraded construction in strong suburban core type areas.If they are not that great then WHY do people buy them?

But it’s a list I like for inexpensive cosmetic upgrades.

(so how is this an upgrade anyway?).