Not like the first time buyer credit-but for rehabs, retro fits, energy efficient upgrades etc.

Another plus, is that converting abandoned buildings such as warehouses is the housing industries answer to re-cycling, making it an eco-friendly option.

I like to get about $100k in instant equity at close of escrow and not have to do more than $15,000 in repairs and upgrades.$ amount is going to vary greatly depending upon what average home prices are in your area.

The owner pays the utilities which range from $400 to $600 a month.The home needs a new roof on it (should be around $5000 to $6000) in addition, the house is using a boiler heat so it might be cost effective in the long run to upgrade this.If I follow the 50% rule for expenses should I just add $600 for the utility bills to come up with my likely total expenses for the month.

Check out the sales in the area and make sure there is at least 1 or 2 sales with the level of upgrades your property will have.

The caveat is (there always is a caveat) that if you have enough money to make required major upgrades to your home, then you can sell it.

Here is a site that details using formica as a backsplash.http://www.truetex.com/formica.htmHere is a blog that uses SimpleMat as a "mortar" for a backsplash:http://www.homemakeoverdiva.com/easy-to-install-kitchen-backsplash-with-simplemat/These metal peel-and-stick are kind of pricey, but will give an upgraded look to your property:http://www.luxuryhousingtrends.com/archive/2007/02/peelandstick-me/Good Luck!

Many renters just like buyers want the best rental and area for the best rate.Depending on type of renter some will just want a place to crash and not care about upgrades or condition.I know by you living there it will eliminate many possible renters.Me personally owning the complex wouldn't want a tenant knocking on my door all the time and if I was the tenant would not want to feel like my every move was being watched.When I look at property for purchase I run numbers off the bottom 50 percent of rental rates for the area based on class A,B,C,D building and then location.

Check into getting things separate metered and or high efficiency style upgrades.

I have had the main panel upgraded, to a 200 amp service breaker box, and plan to run all the wires myself and have an electrician tie them into the box.