Lenders want to see you able to splash out for a new roof, new plumbing, HVAC etc. if needed.

Be the go to guy for roofing, plumbing, HVAC, electrical, carpet, tile, cabinets, etc. 

Maybe on your summers off work construction/electrical/plumbing... 

If they started rebuilding and sealing up walls, you need to approach it like any other property: assume you will need to redo plumbing and electrical. 

Catching it before plumbing is involved (if concrete) can save a lot of money on tunneling.

(Its on septic, check electric, plumb, framing, foundation is poured concrete.)

We need to re do a portion of the extension, new electric, new plumbing, new HVAC, new walls, new bathrooms, new flooring, new insulation new drywall, new kitchen, new doors and trim throughout the house.

This 4 sided brick ranch has all the upgrades you want including all new roof, new HVAC, new electrical, new plumbing & refinished original hardwood floors.

This 4 sided brick ranch has all the upgrades you want including all new roof, new HVAC, new electrical, new plumbing & refinished original hardwood floors.

They don't know whether the subject property or comps have knob & tube wiring, popcorn ceilings, cedar post supports, ancient plumbing, rust inside the electrical panel, floors that are out of level, foundation defects, termite damage, a failing septic system, well water that smells like rotten eggs or any of a thousand things that could drastically change the home's value and most of which are impossible to pick up from listing photos or tax records.They also don't know neighborhoods.