There's also a lot of potential appreciation on the horizon: the city is supposed be building a greenway on the block, there are a lot of construction projects in the neighborhood and a lot of new, high-end condos have recently completed construction a few blocks away.

how much you think for a full gut, with roof replacement? 

Just my 2 cents but I always go conservative in my estimates and run an analysis of what needs fixing and how long it will last - heating systems, hw heater, roof, appliances, carpet/flooring, plumbing fixtures etc

I realize too I may not get November rent but I am willing to cut my losses early on and start this project out my way.

I invest in southside flips mostly and looking for a cheap personal living situation in one of the nice north side neighborhoods, since coach houses are sometimes pretty heavily beaten up in the nicer neighborhoods it could be a project I could afford and take off the hands of someone while giving me prime location, then eventually a rental single family unit type property when I move into something bigger. 

My next property required $8,000 for a new roof right after purchase.

What is the roof like?

Oh yeah, we also renovated every square inch, including a new roof, HVAC, hot water heater, windows, waterproofed the basement, What was the outcome?

What I don't like about the property:Location (possibly, but that's why I'm coming to everyone on the forum for advice)Possible costly repairs to fix the upstairs units, the bones look good from the pictures but I understand that it would need an inspection from a professional to assess things like the roof, electrical, plumbing, etc. 

I have a friend who is a contractor my property is in Kansas City and we are in California I have family also in Kansas City. I trust my friend to do a good job should I send him out there to do the work what do you g...