New electric and plumbing, walls, floor, kitchen, roof, siding, etc.

If you do not, the property may be damaged more, say like a roof problem.  

-Roof - roof has a leak -Tons of water damage - mold is horrible in the basement- Walls are all beat up with holes everywhere( looks like their was a royal rumble in the house) - Kitchen ceiling is cut open- bathroom shower wall is ripped open and ceiling of shower is cracking- windows are leaking - kitchen floor is buckled up from water damage- Both upper and lower deck are in horrible condition( i was honestly afraid to walk on it) - Outside molding around windows is cracked and damaged- all outside lights are broken- carpets every single one is ruined- Bathroom sink is shot- Kitchen cabinets all have water damage- And again ill say their is a big mold problem so i have no idea how much that will cost.The condo has 6 rooms , 2 bed rooms , 2 full baths , 1 half bath 1280 sq ft.

And even then, they would only turn the water on, if there are no leaks before the main valve in the house.Sharad

Now, if there is a wall falling off or a roof caving in, that's another story as those should have been obvious to the seller/rehabbers.

The roof looks good, and hubby will do the windows.  

My brother-in-law is buying a house in San Jose, his first, and it needs a new roof.  

easy. we deal with this stuff here all the time. first, it's most likely a settling crack, which happens often. i dont know why it happened just after 2 yrs, but we have 50+ yo houses with hairline cracks just like these.sometimes they leak, sometimes they dont.  

Normally this list would include the PI part of PITI (Princinple, Interest, Taxes and Insurance).TaxesSewer and WaterTrashHeat/UtilitiesHOACap Ex and Ops (I always budget at least $150 per month per roof)InsuranceMgmt Fee - as a % (general consensus here on BP is 10%. include it even if you think you are going to self manage)Vacancy- as a %. (8% represents 1 vacant month/unit/year)

A couple of months ago a storm came through and damaged a roof on one of my houses, we got the roof fixed immediately but it had caused a portion of the ceiling in the living room to cave in.