My most expensive rehab to date was $60K on a $350K house that I took down to the 2x4s on the inside, rearranged the entire floor plan, rewired with permits and added upgraded panel, new windows, re-plumbed, sheet rocked, and replastered the pool as well as added all new pool equipment and blew out the inside with the latest finishes.I just put a house back together that probably should have been scraped off the lot and it only cost $35K.

There is dry rotting around most of the house in the lower panels.

A typical project would include a lot of new flooring, new sheetrock (many of the houses have only paneling that I replace), new kitchen cabinets and new bath vanities anyway so the way I look at it is the renovation cost would be similar (maybe slightly higher) and the demolition has already been done for me (Ill save $1200 in demo costs).Am I missing something here?

Anything that constitutes a major inconvenience to the tenant, such that a reasonable court would find one negligent for not addressing quickly, constitutes an urgent maintenance need.Example of the former: leaking water, gas, exposed live electrical wires, smoking in electrical panel, dangerous leaning tree, etc.Example of the latter: poor heat performance of heating system; clogged gutters overflowing causing basement dampness; etc. 

Appears to be all new electric, at least the panel is.The home has been lived in as the 'brand new' carpet shows some wear and stains.  

Breece Veneer & Panel Co., 232 F .2d 319.

When we purchased the house, the basement was partially finished with a drop ceiling and wood paneling.

Every door & frame had been removed pending new white 6 panel upgrades & a new steel entrance door. 

The building has no house panel, so installation is going to be expensive any way you look at it.My question here is are the older battery powered detectors "grandfathered", or will I need to upgrade the detectors immediately.

With a few limited add-ins/subtractions for additional features like garage/deck...though, added nothing for my solar panels (whatever!).