At this point in time, I have two buying opportunities that are two different strategies; buy and hold, versus renovate/fix and flip.

I replaced a furnace, renovated bathrooms, etc.

My cousin is a midlevel manager for one of the larger institutional players and consults large big companies - he lost a beer to me in a bet as he did not believe it could be done!

@Christopher Phillips There is a current opening at a commercial firm (by commercial I mean even larger residential buildings).

See attached images with all the numbers the BP calculator has given me, which helped me plan my renovations, etc.

Another option, you could do a hard money loan to finance the purchase and renovation.

Some of the larger expenses-Interior/Exterior Paint, Storm shutters for a few of the front large windows, added additional cabinets to one unit,  New refrigerator from Dent/Scratch store after old one died,  Laundry units that tenant pays +$50/mo for etc. 

You could charge a small amount to begin with and if you find evidence of them smoking inside there could be larger fines. 

We bought the house 2 months ago knowing the pump situation isnt best and were going to replace it during a renovation anyway.

But if it's been 'recently renovated' I assume the juice has been squeezed out of any upside.Bottom line, it depends on the buyer you want to attract.