The deck is in poor condition.

 @John Chen:Look for bandit signs around town that are advertising "cash for your house" or "we buy any house, any condition" or something like that.

It's a calculated decision based on at what stage and condition the building is in.For retail if there are no demising walls yet and it's in a cold dark exterior shell condition the all in costs for putting in walls could be 35 to 40 per sq ft with plumbing and ceilings etc.If you have demising walls already could drop to 25 to 30 a sq ft.

It's in bad condition and I don't mind doing the renovations but I need to be very economical otherwise I'm not making a profit.

The home has all new carpet, tile, paint, ceiling fans and newer appliances in very good condition.  

The title company will issue a title commitment during your refinance which will condition the lien be satisfied.  

I don't know your area and what the market conditions are so it is not responsible for anyone who doesn't know the area to tell you what to do.  

I agree with you that I am almost never on budget, mostly over, but I try to bring the mouse in a condition where all components have at least 10-20 years of life left (which means replacing a lot of course).One thing that you do and I think I will change is to not finish the basements.

The geographical conditions of the area must be stable in both economy and future prospects.Take a careful knowledge about the real estate details.

You pay your debts, you are not negligent, you keep the property in good condition, you have good lease agreements, give an equitable consideration to a tenant to hold you harmless and indemnify you, so that agreement holds water.