I've also been told there are some special paints that can be used to eliminate any lingering smoke odors in the framing of the house.

Paint, carpets, etc. will wear out.

What about asbestos and lead-based paint?

It's sad, you and I pay for these money-sucking lawsuits - when we renew our policy and when we are forced to overbuild and overcompensate for the idiots out there who will eat the paint chips, or in this case, kill their neighbor on your property. 

The Fed is just about out of bullets and a rate cut at this point is more like a paint ball than a deer slug.Mike

Very clean, fresh paint, carpets professionally cleaned and no leaves in the yard.

I've only done a bit of small time rehab stuff over the years - some to my own properties and a little bit at other times (painting, floors, landscaping)That said, I've generally enjoyed it - it's a nice break from sitting at my computer all day.I'm debating getting back into real estate investing.

C) That's time I could be spending painting or doing one of the many other things we need to do to get the property up and running.Anyway, thanks for the reply.

Thanks John for the info, here is where I am at:4 unit bldg listed for $369,000(was purchased at auction in 9/06 for $305,000)Rent total monthly roll of $2,180.00Rents are due to go up and some improvements should be done (paint, etc.)With the market the was it is, I am sure it's overpriced (due to realtor fees), its hard to comap as its in a small town and there is not another to compare to.

Prime with KILZ and Paint the affected areas.Good Luck,Mike