The basement has been converted into an in law unit complete with its own separate: entrance, kitchen, heating, living room and 2 bedrooms. 

This unit is fully renovated with new kitchen, bathroom, appliances, central air, windows, carpet, paint, covered garage parking, provided washer/dryer.

At which point we would want to buy it, rehab it and rent it.. but here is my question.. he is perfectly fine with the outdated kitchen.. and outdated bathroom.. would it be totally CRAZY to buy it for say $110,000 and turn around and rent it to him??

I also replace appliances, toilets, clean dryer vents, snake lines, change shut-off valves, etc etc so that the long-term maintenance is a lot less.  

The two closest permits are:- 1975 (kitchen remodel)- 1990 (addition to house)What is this magic 1985 number that everyone agrees on but I can't trace?

He said you could get deals without seeing the property beforehand from your kitchen table by making evaluations and make offers.By the way I am now 60 years old.  

A huge "single family" home with 5 rooms two kitchens and 2 bathrooms and a large acre of land.

An two story addition was added to this that is 4BR/2Bath, small living room, and office, no kitchen. 

May I charge them for the cost of installing the new appliance?

One is almost fully updated with a new kitchen, new flooring and paint throughout, and the bathroom has a new vanity and fixtures.