If lower unit tenant still gets water, you know theres a plumbing leak or a roof leak making its way down there. 

Needs: New roof; possible foundation work (needs engineers report); possible plumbing work (old copper pipes); possible HVAC (has gas central heat and window ACs, would need central air, but seller may be in the process of updating) complete indoor rehab including floors; counters; light fixtures, refinishing cabinets; painting or otherwise fixing wood paneling.

Willing to coordinate and hold subs accountable (electric/plumbing/etc.).

There is so much work that would have to be done in the basement (moving and framing for so much mechanicals, reworking plumbing and etc) it just might be easier to add 2 story garage.

Windows are good, plumbing is good, and electricity I believe is fine.Expecting the renos to come in around $12-15k (again, small condo, small kitchen, and standard fixes).

(Including standard labor costs factored in) Hopefully these are good ways to estimate costs, and are "universal" estimates for many properties.New Flooring $___ per ft2Kitchen Cabinets $___ per linear ftGranite $___ per ft2Bathtub $___ eachVanity/Sink $___ eachTiling $___ per ft2Carpet $___ per ft2New Drywall $___ per ft2Removing non load bearing walls $___New Electrical $___ per ft2New Plumbing $___ per ft2New HVAC Systems $___ each plus $___ per ft2 for duct workDecking $___ per ft2Replacing Windows $___ eachNew Roof $___ per ft2Standard Holding Costs that quickly add up!

To make a long story kind of short, a developer bought roughly 40 acres in the year 2005ish, paid an engineer to create the subdivision layouts (and whatever else), and he also had all the excavation done for plumbing/sewer, etc, BUT then the market crashed a few years later and the developer gave the land back to the banks.

You will have a water heater go out, or an a/c unit break, or plumbing leaks, etc.

Ideally i'd place the second bathroom back-to-back with the existing one to run stacks and plumbing all down one section.

I'm okay with taking on replacing kitchens, bathrooms, drywall and floors, but don't want to get into significant plumbing, HVAC, electric, water or foundation issues.