Originally posted by @Wayne Brooks:Curious what your $35k was for if it didn't include this stuff, sounds like a full rehab on both units, and still that seems like a lot.Its for 1 bathroom remodel, new appliances, LVP throughout the bottom of 1 unit 1500 sqft, fixing panels on side of house, 3 doors installation, new counter tops and back splash, painting front of house, fixing broken concrete ldge on front of porch, and a few other small things.

Article: Jury finds for woman in lead paint case involving Pawtucket rental 17 years agoIt's interesting (and a little concerning) that they could go back so far, but another good reason to make sure you're taking care of any lead paint issues in your rentals and providing the required disclosures if the property is built before 1978.

My realtor gave me a typical landloard from form california realtors but it had so many clauses I am having a tough time going over it fully, plus it has addedum for smoke detector, lead paint, megan sex offender and what not.

I am renting out to a couple with a baby. the house is ~40 years old so earlier than 1978 in california.We are required to provide lead paint disclosure.

Any crazy painted rooms - get them neutral.

If any members of the family have hearing problems, install one for the hearing impaired.The entire unit, both inside and outside, including window frames, must be free of cracking, scaling, peeling, chipping and loose paint.

It needs a good $5-8K to make it what I like to deal with which usually means new floor coverings, paint, windows, some shingle repair or replace, skirting, maybe some cabinets.  

After some research it seems that the consensus is to not remove asbestos siding, but to spot touch up and paint or completely cover with new siding, because removal is very costly.

.- Lead paint.- Tenant placement can be tricky.

Option 3) Finally, it has crossed our minds that perhaps it would not be a bad idea to do flip for our first deal on a home that needs basic and minor cosmetic updates (new coat of paint, laminate floors to replace carpet, updated appliances and cabinets perhaps).