Here's the situation: our house is a three story like most others in Old Louisville, with interior and exterior access to the third floor.

I will probably only need to spend $2,000 or so outside.2) Newer Electrical Panel3) Newer Hot Water Tank4) New tile around bathroom tubThe Bad:Almost everything about the interior.

Purchase price: $39,000 Cash invested: $45,000 Brick ranch 3 BR 1.5BA converted to 2BA, updated interior and exterior.

Tenant past control is related to the interior of the home unless they are slobs and have poor exterior housekeeping it's on the landlord.

Our property has a nest system which operates thermostat along with interior and exterior cameras.

(BTW- my "day" job is doing architectural planning/ interior design for a retail chain of stores, and I design store facades all the time. 

I have no idea what it would cost to rebuild the interior in case of total loss. 

There were clearly fixes made to multiple areas, including a new interior door, but the fixes were nice and the door was a better door than the one we had. 

Soon after, my realtor and I went by to check on the progress of the interior and they had already done the countertops throughout.

- Looking back, it was prime for some massive value add through interior renovations but as a cash-strapped, uninformed newbie investor, we didn't capitalize on that.- We definitely overpaid for the property at the time as we were trying to strike a balance between somewhere we wanted to live and investment returns.