They are in need of a bunch of updates.

I am thinking about adding a master suite, a garage, and updating the current interior, and have a target sale price of $330,000.

It’s possible they could have updated the water line but you would see that in past permits on the building departments website.

-Updating the flooring & painting entire home made the home more modern and able to get higher rent amount-Using outbuilding for our storage saves us from having to rent storage unit.

Though the house was built in 1940, it had great bones and mostly needed design updates to bring it back to life.

Update: After the initial post I was able to do so more research online and through the forums (where there were endless posts on the subject). 

I am thinking about adding a master suite, a garage, and updating the current interior, and have a target sale price of $330,000.

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@Dustin Crawford I own property in Palestine and Anderson county is way behind on updating their tax appraisals (a good thing if you are an investor, it keeps your taxes low).

Just an update that I have spoken to my accountant and my financial advisor about this idea, and they both agree that this is a good way to come up with the funds for a real estate investment given our current circumstances.