My point is, my gut tells me there may be something there but im so new I dont feel comfortable making a true assessment.

I completely gutted the second and third floors and combined the galley kitchen and bathroom into larger bathroom with laundry in units.

Despite one unit having fire damage and needing a full gut job, the other 3 units were rented or rent-ready.

This is a full gut rehab project that I have.

  $150K gets you a tear down , $200K gets you a total gut .

Follow your instincts - structural engineer!

Its all dependant on the neighborhood and quality of the materials and fixtures i.e. park city house vs odgen rental.For us in the east side of SLC 30k can cover a light rehab for 1500 sqft, 50-60k for moderate and 80+ for a full gut. 

@Matt Honeyford my gut leans toward buying without a Realtor, but selling with one!

Have a  client buying a true 4 unit brick in West Garfield park now for $86,000 with a major gut rehab planned with a budget of $370,000 to make the units 3 bedrooms and 2 baths with in unit laundry, new HVAC and basically new everything.

There is one available in the Mapleton Fall Creek area that I think would be a great pick up but it is pretty much a gut rehab so I am not sure if that fits your companies business model or not.