He probably wanted you to figure out an actual estimate for the repairs and then add on several percent as a safety margin.

We are in uncharted territory and no one knows what consequences current policies will bring.

What I do now days is project management, contractor negotiation, and construction safety / risk evaluation.Real estate takes a lot of street smart, instead of "book smart".

I wouldn't invest unless I have a safety net.

But remember-whatever quote you get, add 10-20% in the "just in case" reserves, and more time than they estimate, because major rehabs almost always go over budget and over schedule-which means vacancy and no rental income coming in.Updated units would possibly mean higher rents, but I make a policy to never purchase property based on speculated rent-only on its current performance, and give consideration to potential rent increases.

You just have to meet with the Section 8 inspector to make sure all units are in compliance with their requirements for safety and function ability.

Get a good insurance policy and forget about all the other hype.Joe Gore

could present big red flags with respect to integrity and safety (electrical - dependent on timeframe done, asbestos, plumbing, etc.).

A great investment, imo, and one I funded through a method not often mentioned; a loan against a whole life insurance policy I've held for a while.

In CA, each county's public administrator has their own policies concerning liquidation of probate, conservatorship and guardianship properties under their control.