@Chris Witt - Yes, that would be considered a material defect and must be disclosedIllinois law requires you, as a seller, to tell a prospective buyer, in writing, what you know about the quality, healthfulness, and safety of your property.

Look for projects that interest you, assess their materials, and then consider putting some of your own skin in the game as passive investor.

Go to Habitat for humanity and ask for materials you might get at a discount.

Spent $95,000 remodeling, mostly materials as I and co-workers did the remodel.

A side note when buying a multi-family:  I find most brokers who estimate expenses in their marketing materials are frequently off. 

You have very little left to claim for in the way of damages unless you can show material loss.

From what I understand, asbestos doesn’t just grow into materials out of the blue.

@Christian L Babcock the system i just installed in my house was eligible for a 1,600$ rebate in Massachusetts. 2600$ in material Im a licenced hvac tech so labor was freeAnd a 1600$ rebate.Not to bad for a brand new hvac system for 1000$

It wouldn't cost much to do the work just material , me and the wife do this all day long for our business so we can do the work  ourselves .

Initial concept is for a mix of 1 and 2 bedroom units, basic in design and build out materials, with living space located directly above an oversized single garage stall.