Good morning, the following property is up for sale at $250k.  114 S Broadway St, Toledo, IA 52342 | ZillowThe seller has 'described' it as follows:"The property features a new roof and updated electrical work completed two years ago at a cost of $120,000.

You also become responsible for making sure your tenant has a livable space - keeping all the major systems up and going - so hot water heater, AC, the roof, electric, plumbing, etc.  

Estimates are bout 400k for full gut remodel (hvac, plumbing, electrical, roof, mostly new windows, kitchens, and baths, minor re-framing) New plan is for (2) 2B1B units and will rent for 2k and 2500/mo. 1 unit is a larger 2 bedroom.

Adding a new outlet, circuit and pretty much doing anything electrical aside from replacing a fixture or replacing the receptacles or switches requires an electrical permit.

Plumbing, Electric, HVAC, Drywall, Gas etc.

I’m defining general light work as plank flooring, painting, minor electrical, etc..For example - is it fair to estimate flooring labor as $3/square foot?

Owner is motivated to sell and says expenses are $2300/month (includes lease rent 1700+600 in electricity/gas water included in rent).

Tenant shall properly use, operate and safeguard Premises, including if applicable, and landscaping, furniture, furnishings and appliances, and all mechanical, electrical, gas and plumbing fixtures, and smoke alarms, and keep them and the Premises clean, sanitary and well ventilated.F.

We also had some exposed wires under the house that required some minor electric upgrades to bring to code.

Then go price your labor plumbing electric, roof, finish outs, and landscaping.