However, if the property has a newer roof, newer windows, updated plumbing and/or electrical, updated heating system etc., it is possible that this number could be adjusted downward. 

I requested the seller fix the roof repairs (small fix), bathroom faucet leak, replace water heater (really old), and replace ac/furnace unit (old as well).There’s about 5 smaller things that I said I would fix. 

I'm part of a NYS landlord group called Under One Roof which is headed by a local attorney that is very active in this space.

Some wouldn't go in an attic, wouldn't go on a roof, wouldn't test every drain or open every window.

I see 3D printed houses are gaining some traction since the cost of lumber's gone through the roof.

He will be putting new roofs, adding a new AC unit to one before me buying them & doing minor remodeling on the two he’s ready to move now.  

I have sold everything from books to roofs.

My brother is handling that aspect.

@Bob Okenwa Completely glazed over that aspect of the loan.

We are planning to renovate 3 of the units, paint the exterior, landscape, clean up of exterior, tree removal, replace roofs, and possibly solar panels.