Our Bldg Inspector here wants all outside walls insulated to 'code' IF you open them up, plus wiring/plumbing etc upgrades.

There are some cases where cap rate is even lower if one of the few upgraded construction models that does NOT have the sheet metal sides and back and is in a strong suburban to urban core market.

Just had a couple of kids sell their farm & got nailed with $11,000 in NEW code requirements/upgrades.

We bought it for $50k, put $42k into it (which is way more than we would put into it as a normal rental, but we knew it was for my daughter so we put in upgrades we wouldn’t normally do). we rent it to her at the cost of mortgage, insurance, and taxes-zero cash flow.

You can also add air conditioning now or later relatively easily. if you want to add hot water baseboard the boiler pipes and time to install will cost you. if you want to do electric baseboard you might have to do service upgrade to support the additional circuits and amps they draw. 

But the property has the possibility to add 2-3 bedrooms on the first floor and increase rents to 2,000 if upgraded to five bedrooms, my dad is a contractor with 30 plus years of experience without looking at it he gave me an estimate of 14k-20k material and work included, depending on the wiring, flooring, etc. 

But the property has the possibility to add 2-3 bedrooms on the first floor and increase rents to 2,000 if upgraded to five bedrooms, my dad is a contractor with 30 plus years of experience without looking at it he gave me an estimate of 14k-20k material and work included, depending on the wiring, flooring, etc.

But the property has the possibility to add 2-3 bedrooms on the first floor and increase rents to 2,000 if upgraded to five bedrooms, my dad is a contractor with 30 plus years of experience without looking at it he gave me an estimate of 14k-20k material and work included, depending on the wiring, flooring, etc.

Crestline is an up and coming area that the county is doing a lot to update and upgrade.

So, would the apartment building's electric intake would have to be upgraded by the Utility company?