We replaced all roofs and removed all gas lines and replaced with all electrical appliances.

We replaced all roofs and removed all gas lines and replaced with all electrical appliances.

If you have a tenant leave, you will still have to pay that water bill... it transfers with the property here in the Chicago area unlike other utilities like electric or gas. 

I put $64K into it, new roof, upgraded to 200 amp electrical, rewired 100%, all new plumbing, beautiful original hardwood floors sanded and polyurethaned, tile in bathroom and laundry room.

We ultimately tore the bathrooms and kitchens down to studs and rebuilt them back with all-new plumbing, electrical, and updated layouts (including new dishwashers).

We tore bathrooms/kitchens down to studs & rebuilt with all-new plumbing, electrical & updated layouts, including dishwashers.

Submetering electricity is probably what I would do first.

Hey,I am currently under contract on a commercial space w/ over 9,000 SQ.FT - high-quality block & brick construction, stage three electric, new rubber roof, etc.I believe it was most recently used as a retail store judging by a old walk-up counter in the front of the building... the building requires slight work w/ an estimation of $25K on the extreme end.The building is split in half w/ a stick framed wall causing a split of about (43 X 60) on the side closer to the street w/ a (10 X 10) office space that has a bathroom, as well as an additional (5 X 6) bathroom accessible from the entire front portion of the building.The back half of the building measures (30 X 70) w/ an additional framed wall in the back for an additional (10 X 70) storage space... the back half of the building has a second story walkout & walk-down access to the basement.Additionally, there is a basement sized (43X41) w/ an exterior walkout.I intend on putting this building out in phases....- The first being converting the (10 X 70) space into seven (10 X 10) storage spaces aimed for paper storage for professional offices such as title companies, real estate brokerages, etc... the income from this will cover the seller financing note I have on the property.- After that, it's to the front of the building... there's a few general renovation tasks that I won't bore you with but I will be putting a garage door in the front of the building to make this space indoor car storage for at least fifteen cars... this portion of the building isn't over the basement but I'll wait until a structural engineer gives me the okay before I start this project.- I'll also be putting a front door on that (10 X 10) space when we're adding the garage door to have the option to rent it out but I'm most likely going to keep the space for myself.- Once complete w/ the front of the building I'm likely going to mirror the storage setup onto the other side of the building in the back partition...

One needed a full electrical upgrade from knob and tube.

My son has caught the bug too, but he is doing most of his investing on the North side. warmest, Susan