It is recommended that a licensed electrician further investigate.There is a need to install one or more insulated bushings over the end of conduit OR within knockout to protect wires from sharp edges in panel.The inspector has discovered a number of three-prong, 110-volt electrical outlets in home with reversed polarity.There is no discharge pipe on the safety valve for water heating system.There is a noticeable bow/sag to interior ceiling within home AND to roof ridge.

So you buy for $40K, rehab for $30K, are all-in at $70K but the price-ceiling on the neighborhood is $60K.  

Great character, approx. 2500 sq ft, 9’ ceilings, 3 bedrooms, 2 full baths, updates made to all the major things (electrical wiring, furnace/water heater, windows etc) and the location is within walking distance to the train station, international airport and a college campus.The town is old, the oldest in the county, and it shows.

Total outstanding mortgage balances: $498,000I approached my lender (Local credit union) looking to refinance all the mortgages into one large one and create a line of credit with the equity in the properties so that I have money avail for "Cash" offers.I'm looking for red flags, points for renegotiation, and any advice would be appreciated.Here is the unofficial offer from my bank:Loan 1:Loan amount: up to $525,000 including all closing costs not to exceed 75% of appraised valueRate: 4.35% fixed for 60 months, then to adjust to 350 b.p. over the 5 year UST Constant with a floor of 5.38% & no ceiling.Term: 120 monthsAmortization: 240 monthsOrigination: 0.5%Loan 2:Business Line of Credit: $100,000 not to exceed 75% of appraised valueTerm 24 monthsRate 5.50% fixedI'm not a financial guy, but I'm not really happy with: no ceiling, 0.5% origination, and 24 month term on the second loan.The biggest problem is that they are going by purchase price.

I tried to go into the attic to view this from the inside but I couldn’t tell what was going on because there was a lot of insulation and drywall from the high ceilings of the house in the way.

To add a bit of info there is no gas for the property as the heat is radiant ceiling heat.

I'm talking garbage bags piled on top of each other from the floor to the ceiling. 

They ran new plumbing all around, HVAC, sprinkler work and did a lot of behind the scenes stuff like fortifying the ceiling, moving a stair case etc.

Simple roof structure and foundation structure, so repairing / beefing it up is easy.What's different is the ceilings are often cracked and sagging. 

It is 100% your responsibility to report maintenance issues.Here is a list of items we want to know about immediately:Mold (within 48 hours)Drippy faucets, drippy pipes, or “running” toilets (within 48 hours)Moisture where there should be none (roof, under the sink, on a ceiling, etc.)Maintenance RequestsPlease submit your Maintenance Requests via email to: XXXXXXXXyouremailXXXXX.