Overal, the home is not in bad shape, but does need some of the following: paint, flooring, fireplace repair, siding, windows, cabinetry, plumbing.

I would try to make present it as a safety inspection - checking the smoke alarms, cleaning the fireplace or dryer ducts, etc.

Houses in Youngstown proper are dirt cheap - you can get a historical 2.5 story 6 bedroom 5 bath house with 3600 sq. ft and 4 fireplaces for under 40k but even if you fix it up you won't be able to sell it for more than 150.

It even has a jacuzzi tub and fireplace in one of the bedrooms.  

The first was a complaint that the fireplace was not working.

Good afternoon everyone,My dilemma: Contemplating Purchasing first 2-family home. 3br lower 2br upper Pros: - Location, in the heart of town- Tenant paying $1500 for 3br and wants to stay (been there four years)- Water heaters, Furnaces newer with separate meters for each unit- Natural Gas - 2 Car garage - Corner Lot- .24 acres- Based in rentometer.com 3br rent for $1700 on average and 2br $1550 on average for its location- 3BR has one and half baths- Laundry hookups both units - FHA Loan, less down payment- Owner occupied (id live on the top floor while renovating)- Foundation is solidCons:- 2BR needs a complete renovation to the studs- 3BR needs renovation but nothing right away (tenant is happy as of now)- Leak from fireplace/roof which is ongoing- Taxes are $4500- Price listed at 360k- Comps have sold around 330k, but don't have the garage or location- No cash flow until I were to be done renovating and buy another- Some plumbing neededI got a CAP Rate at around 8.5% with it being sold at 360.

fireplaces, @-car att garage, ...David J Dachtera

@Matt Geerts, @Sarah Larbi   I turned down this applicant, based on her wanting me to install a screen in front of the fireplace, to protect her children.  

The basement has a full bar and a huge brick fireplace that you can also expose upstairs.

The house passed with a few issues: some small electrical problems, a fireplace that is unsafe and needs to be removed, and the celebrated brick barbecue deemed a fire hazard.