in the 12 yrs we have owned it, the Management company had and emblezzement (losing majority of the fund), Forgot to pay parking revenue to rightful owner (apparently it didn't belong to them for the 30 yrs), and HUGE 30 yr assessement to upgrade HAVC for the 500+ units......we were only able to absorb all the cost b/c it was in a great location, highly desirable and high rent area of a major city!!!!

If i remember correctlt I installed an energy efficient window and covered the upgrade of $30 and they paid to replace a non energy efficient window.

My unit has the same number and quality of upgrades as the comp (all cosmetic).

It had a huge driveway/parking space, you can put another house on.The lot is significantly larger than average.We go in....typical rehab/upgrades needed.....So...I'm interestedI go do my due diligence:It's an old development. 50 yrs old.

The only problem is that you will need to save enough money for closing which will be several thousand dollars.I have a friend who did this and upgraded his home several years later.

Capital Improvements: Expenses maintain the working order of somethingCapital improvements increase the life, upgrade or substantially improve the property.A replaced leaking pipe is an expense.

Zero inquiries, other than a few that they make me pay/upgrade to see.

renov is comestic, upgrade, it's a 60's house in all the decor sense. i already have a realistic budget.based on a similar purchase on the same street by me last wk, my offer will be really embarassing.should i wait, let it list, sit in market...and approach later?

But if you add in all the interest, taxes, insurance, maintenance and upgrades, a residence is often break even or a loss.

This is a common mistake for inexperienced investors not to properly budget money to upgrade heating and insulation in old buildings.