Part of the reason this is a difficult call is because at their age they are not likely to be causing a lot of wear and tear, maintenance costs will be low and clearly if they have been there for 20 years they are solid payers. 

Rents have been on a tear for a while but nothing goes up forever and it’s a good exercise to think about how things would look if they fell.In general, you’re going to have to learn how to look at the numbers on rental properties to check if the rents (current or market) support the asking price.

When you really have a passion for something you find it's hard to tear yourself away.

Of course, my concern is how to rent a 5 bedroom, 3 bathroom, finished basement house and not have parties tearing it up.

Looking at one now: 1.3M purchase price (a tear-down right next to a 10M new build that’s almost done) , 1.4 construction budget, resale value 6M bare minimum maybe a lot more if we do it right and the market holds.

This is difficult to say across the board but if the house is a full tear down and no way to save any of it (not even the foundation), then the value with it is less than without it since you have costs to demo and haul away.

Challenge the expense arguing the cabinets were low quality particle board and the damage was normal wear and tear for location under the sink.

I’d thought that a sewer inspection and accompanying quote would protect me2) If I do need to replace the pipe and tear up a bunch of cement, how do I make the most of this?

Then there are those who choose not to pay and tear up the place & stuff baby wipes down the plumbing before they leave.

Both also need major rehab/ likely tear down.