The home needs gutted (Done), complete electrical and plumbing and foundational (leveling floors)work.

It still has structural and electrical warranties in place.

Each apartment is individually metered and the tenants pay their own electric.3.

Please share your recommendations for electrical, painting, drywall/plaster repair, hardwood refinish, masonry (small front porch), and kitchen and baths remodel.

Hey y’all,I’m a landlord in New Orleans and Hurricane Ida just swept through, leaving us all out of power for who knows how long.  

So electric could be $300-600/month..as a general rule, most of these communities will be electric, so no savings on gas.

We are not showing a management fee because we are planning on renting one of the units to our daughter and have her serve as the manager for the other two units (feedback on that is welcome as well).The units have been updated in the past few years and the owner is a licensed contractor who did a good deal of the work with his company (plumbing, electrical, windows, roof).We are planning on using a HML that is offering a 30-year fixed load, 1 point to cover early refinancing since they do not have a penalty to do so, an underwriting fee of $995 and a processing fee of $695. 

We recently moved so we would normally pay the electrical for those items.

I could talk for days about the pros and cons of historic homes but the most important part in my eyes is a solid roof, structuraly sound foundation/beams/crawlspace, and updated electric.

This is because inflation is constantly eroding the buying power of money, so you have to keep spending more dollars to buy the same items.