The strategy utilized a Turnkey company out of Philadelphia to locate a suitable property, rehab the property and then place a tenant in that property.

Expect to pay between $40 to $60 a sq foot for development costs including engineering, architect, surveyor, permits, utility hookups, etc.

Still, though, there are lots of gotchas, even if your zoning will currently allow the second unit, including:- Utility submeter requirements.- Water and sewer capacity fees (locally ~$10k just for approval per new dwelling unit).- Sewer sizing.

I am exploring installation of roof top solar panels to a) reduce the utility bills (Owner paid utility situation), b) to replace an old roof part of this deal so it can be depreciated quickly!

I have a quick question:I'm doing my third rehab and the new contractor I am dealing with is asking that I connect utilities to the property.

There are no utility leins because when they tore down the house they cut the lines at the road so it would have to be reran if built on.

A good tool to utilize is excel, you can evaluate a cash flow in minutes.Monthly payment is =PMT(intrate,term,principle) it would look like=PMT(5%/12,180,100000) This is $100,000 at 5% term of 15 years.Then place your estimated occupancy rate, insurance, taxes, an allotment for improvements down the road into a pivot table to automatically subtract.

That said, don't walk into any situation blind; make sure you utilize all the tools available on BP and always ask questions in the forums when you are unsure of something.

.- it's always good to see another Hoosier utilizing this great site!

The city boarded up the house because there were squatters in it and it is classified as "uninhabitable" because it hasn't had utilities for a number of months.