There was severe smoke and water damage, and an existing sagging second floor from the weight of the water, but we knew that was able to be fixed.  

If you have multiple units on one system, and this being New England, I'm guessing it is an older building, you are most likely going to have to open up walls, and replace a lot of the supply and return lines so that they make home runs to individual boilers, etc that you will be installing.  

For example, the money used for the original purchase of the property is no more or less valuable than the money used to purchase supplies at a later date.

America after World War I stockpiled 70%+ of the worlds gold supply and his caused capital flows to pour into the U.S.

Operating agreement in place spelling out duties, financial responsibilities, and profit share as follows, Member 1 provide purchase money, pay holding costs and supply labor as able/ needed.Member 2 ( me) provide rehab money, manage contractors, make all decisions neccessary for completion.Short version.

My goal is to find a rental here (college town, built in supply), but it is very discouraging.

. $25k sounds like a lot, but when you install new roofs, HVAC systems, hot water tanks, ceramic tile, new supply lines to angle stop valves, vinyl plank flooring in high traffic areas, carpet in bedrooms, faucets, fixtures, electrical panel updates, etc. it really is not that much and important if you plan on a long term hold.

. $2500 settling fees (don’t have exact amount just a guess)$2250 in supplies to fix upIn six months when I get 30 year cash out mortgage another $2500 (guestimate) in fees for new loan. 

For instance, new construction is still way down, lending practices are much tighter and the money supply is not filtering in to the economy yet.

But If I get a smoking deal on a jet I will go for that   LOL and throw the previous comments right out the window