No, but I don't want the call from my tenant saying the basement flooded and ruined all their things.I prefer to keep rentals that have mostly brand new mechanicals.

@Charlie Vollers , sorry, I didn't mean to put all the emphasis on scrape & build new duplexes, to be sold as "half-duplexes".A landlord that owns the full duplex (might be 50 or 100 yrs old) could divide the deeds and sell off the halves.

It is a mechanic shop with lifts, ect...Great locationpurchase price- 229k with 20% down paid by the person who I'll be renting it to and will be selling to in 3 yrs for 260k.  

Get a mechanical contractor out to see the property and give you a quote. 

You may not need to budget for as much capital expenses if you don't plan on holding it for very long and if you replaced some of the major mechanicals in the rehab.  

Usually they will inspect a portion of the units if it is over 10units and then look at mechanicals, roof, structure, exterior, etc.

Life events happen, we get it and I would envision if something isn't spelled out in the PPM exactly how this mechanism works that a "best efforts" approach would be applied for a win/win scenario for the current investors and existing investor.

I am an Electro-mechanical engineer by education, and I currently work as a software/controls engineer in the HVAC space with a stable job and good income.  

The mechanism for avoiding double taxation in these circumstances is usually a tax credit for taxes paid to another state.

And if you are the third party that has bribed Zillow for leads through this bait and switch mechanism- don't sign people up for your mailing list without their permission.