Got a brand new upstairs, electrical, and kitchen out of the deal so it all worked out.But thats kind of the story I think of when I hear people say they don't want calls at 2am.

To redo what I see in the before to what you see in the after, you are looking at plumbing, electrical, demo etc.  

I'm a former contractor, specializing in "green" technologies and efficient energy use retrofits.

After we bought the house, we completely overlooked that the house had NO HVAC OR ELECTRIC HEAT AT ALL, only had a propane heater in the living room.

It is about 2 1/2 hours from Manchester, nh.We made it through inspection, it is a 100 year old house and needs a roof before the winter, I am figuring it should be about 15kish, but haven't gotten quotes.Putting 3.5% down with an FHA loan the p&i +mortgage insurance are $1200 a month taxes and insurance put it at about $1700, then $400 for maintenance/capex, and $100 for water/sewer and house electric, 8% $244 for vacancy.Current income is $3050/month, after calculating for maintenance, vacancy, capex I figure we should cash flow around $600/month.

I.e. tenant (or anyone you give a check to) has your account and routing number and now uses it to pay their electric, phone bill, other rent, etc.This has not happened to me personally, but I have seen it happen in my day job.And the banks never have a good answer.

It had been rehabbed with permits including electrical permits 4 years ago.  

Lighting and electrical ($600)6.

Remember, if this is an older property, you could have unforeseen foundation, plumbing and electrical work needed and that can get expensive. 

This weekend, they came to my place to check on closing an electrical permit (which btw was never closed on a $23,000 project because I had dried PAINT on a couple plate covers) and somehow made their way into my bathroom sink.