We need about another $2.25M for purchase and light rehab.  

@matt @Matt MooreThe cost are difficult to assume without more detail but here goes:Flooring 4-5/sq ft includes demo or sweat equity on demoPaint might be light I use 2 for interiorHVAC $5000 for forced air 80% and central airRoof $400 per square plus 10% number is goodKitchen varies so much I spend $2500 on cabinets or less and then double for labor total $5000.  

Hi - We're looking for a current referral for property management and/or turnkey company to help with light refurb on a duplex in Indianapolis.

Things to save money on here and there are painting yourself if you can do it well, light fixtures, GFCI (you need one but not every outlet because you can tie them in with each other), tearout.

( I’ve had good luck playing that card showing the owner the cost get the complex in compliance or buying contingent on it being compliant)-expenses seem a little light if it really is a somewhat run down property in a bad area ( depending on your investment strategy these properties tend provide better cash flow to somewhat compensate for the lack in appreciation)-are tenants paying utilities?

So they set all of the gold cars they saw in the parking lot on fire.No caption necessary for this toilet from hell.This is what a kitchen can look like when a low income tenant moves out of it.This is what a backyard can look like when a low income tenant moves out of it.If tenants in these tough neighborhoods don't have yards, don't worry they will light off their fourth of July fireworks in their bathrooms.Don't worry though.

@Zackarias Aitchison - Replacing lighting with LED fixtures or bulbs, also pipe wrap is an inexpensive upgrade. 

Then the problem belongs to the seller.Finally, you can take steps to get the unit legalized, assuming certain conditions exist (ie, there's 2 means of egress and large enough windows in at least one room to satisfy light and air requirements).

So this month she shows up with her portion of the rent (shes section 8 and they pay most of her rent) and its $80 light.

I chatted with a couple of attorneys and they all give the green light but the banks are worried about going forward because I'm trying to use FHA and its a little too grey for their preferences.Thanks everyone!