there is a realtor in my town that has a house that she will rent to owner to me but the house need a roof,electrical,drywall plumbing, painting, new kitchen sink & windows. the asking price is $15 thousand also she want $500 down an $200 a month. all this work I can do myself I am estimating that the material might cost about $5,000 to $7,000.

I would at least create the space & run the plumbing for a dishwasher.  

There were no interior finishes and no plumbing, electrical or mechanical systems.

This means the contract will need to be remade, which will then cause it to be an extension of new credit, which could also cause it to come under fire of new regulations.  

Patrick I work for a Plumbing company, I'm the accountant, the phone was off the hook today so I answered a call to help the dispatchers, I never answer calls, and these lady called for service and we ended up talking about her whole life.

All properties use the same percentage and the land and improvement value (they break down the property value into these two parts) will appreciate by a certain percentage per year based on your county regulations.

In the town where I have a rental SFR, if you're doing a plumbing reno or inspection & there is no ongoing water service at the property, the utility will allow you to turn the water on for a day to do repairs, etc. without going through all the paperwork.

Furnace, air, foundation, and plumbing in the bathroom will be hired out. 

The properties I'm looking at are all very closely regulated by the city and there aren't a lot of random trailer parks around or anything to that effect.

My concern is when fixing foundation I heard it can ruin the plumbing and that's an extra expense.