My husband and I own/remodel/self-manage a 4plex and have painted 3/4 unit interiors and replaced all the windows last summer and painted the exterior.  

I was just following gps directions to the next property on my list and would catch a boarded up window out the corner of my eye.

So the bigger lesson here is to assess where the marginal efforts vs marginal returns lie, and choose where you want to be on that sliding scale.

I didn't approve the bird verbally, but kind of let it slide (it's a little parakeet). 

When the market turned in 2006, I saw many people that I had utmost respect for throw their integrity out the window in a heartbeat when their own treasure chest was threatened.As years go by the sting over your financial loss will lessen, overtaken by the pride you feel when you can look an investor in the eye and promise to take care of their money.

I believe there are little black ants coming out of this hole under the window sill.

Over the next 12 months, we will be implementing financial and operational procedures, on-boarding the asset to 4M Capital’s platform, and carrying out capital improvements.Major Deficiencies:-8 down units (demo'd to studs)-High vacancy and delinquency-Poor management-Deferred maintenance  Upgrades / Capital Improvements-Bring down units online-Install new heat and air systems -Install new doors / windows-Add amenity package-Upgrade kitchen / bathroom / appliances -LandscapingDeal Economics Construction BudgetA few cool shots with the drone.. don't let the dreary weather fool you, this is a great property on a fantastic piece of land, just needs a lot of elbow grease and a little TLC.   

Brand new windows throughout the home as well as ceiling fans.

If the property was renovated top-to-bottom four years ago, you would be safe with a small reserve whereas an old home may need a new roof and boiler and water heater and windows in the next 5 years.That's just a few considerations. 

My home has no windows/doors/electricity/plumbing or HVAC and to make matters worse, Lender still owes me money for out of pocket permits that I paid in order to expedite repairs and they agreed to reimburse when renovation is complete.