One or more of the cities in LA/SD has 1 inspector per trade, that means if you call for inspection on plumbing, electrical, fire, you will get 3 inspectors while some cities only one.

We will have to gut and redo everything (electrical, plumbing, kitchen, baths, flooring, etc.).The Investment Purchase Price: $62,000Remodel Cost: $105,000Carry Time: 6 months (4 months for remodel and 2 months to list and close)Finished Product: 4 bed, 2 baths - approx. 1,900 SqFtOption 1: Flip ARV: $230,000Actual Sale Price: $211,000 (230,000 - 19,000 closing costs [2%] and RE commission [6%]) Profit: $44,000Cap Rate: 26.3% (44,000 / 167,000)Yearly Return: 52.6% (44,000 x [12mo/6mo])Option 2: Rent Estimated Monthly Rent: $2,100Annual Rent After Expenses: $17,640 (2,100 x 12mo x 0.7)Expected Return: 10.6% (17,640 / 167,000)Before PicturesFollow this post for regular updates and to see the finished home!

When my inspector got there the house hadn’t been de-winterized and all of the electrical fuses were in the off position so none of the water or electric could be inspected.

How is the electrical, plumbing and HVAC?

Hi,What would it cost to rehab a 6000 sq feet house with Viking sub zero appliances, hard wood floor in all areas , finished basement, tray ceilings, iPad controlled audio, tv, electrical system, new roof , ultra luxury bathroom (s)with Carrera marble, extremely energy efficient windows and walls, cat 6 cable wiring everywhere.House is 6 BED6 BR with all brick and stone on outside with everything else gutted inside .Lot size is more than half acre.Please ask any questions if I have left any details.PS Similar houses in that subdivision which are > 25 years old sell for 1.7-2 million.PPS I was planning to build new house on a vacant smaller lot, but since new property came up have decided to explore it.Thanks.

Well the other thing to to take into consideration is utilities, make sure they are broken up ( separate gas and electric meters) I own properties that don't so you just need to bake the extra cost into your numbers.

I bought a house that was a three story brick house with a new roof and new electrical service for $50 full price with no debt on the property.

Our insurance provider also penalizes us for oil heat.When we are putting together an offer on a property with oil heat, we price in a conversion to either electric (heat pump) or natural gas.That said, we have ended up running a property with oil heat prior to conversion and, while the tenant was responsible for the heating costs, we coordinated the oil delivery - given we received a 5% discount as a result of our affiliation with a local apartment owners association, the Tenants were keen on the arrangement.

It's obvious it has happened to them before with a previous client.All I say is let common sense prevail in these situations.I am sorry to hear you are having this experience.Many insurance companies won't write insurance policies on these really older homes unless documentation has been shown that all major electrical,plumbing,rood,etc. has been replaced.The insurance company knows just like you are experiencing that if they are not replaced repair after repair will drain them dry in payouts.

The way I see it is if the tenant is paying high gas and electric bills, that's less money they'll have for the rent (and we all know who gets paid first in the utilities vs. landlord struggle).No, I wouldn't install a Bosch tankless water heater (like we have in our personal residence) in a rental home, but I wouldn't put in a circa 1943 boiler that I found in the antique section of Craigslist for $25 either.