There are a few non-negotiable items like a new roof and refinishing the hardwood floors, but I will be able to cheat on the kitchen and the bathroom.As far as an ideal tenant, I really just want a family that has stable income and won't destroy the house but will also go the extra mile and look after the house and neighborhood.

In a practical world, I am not paying $90/hour to install light fixtures, replace light switches, fix leaking faucets etc.

If you have big issues like foundation or major roofing, you would have to use standard 203k which requires the consultant.

The house probably needs a roof, a backyard fence, new flooring everywhere, and interior and exterior painting, so I don't have a lot for extras.

Groundwater at the rear of the house is leaking into the house on a regular basis nowadays.

Its about a 1600 sq foot ranch, built in 1967 that has been taken good care of for the most part, the roof is nearly new, basement is solid and dry, furnace is nearly new, overall its in good shape but inside it definitely needs updating.

Toe kicks have to be painted each time as it gets smudges and if there is a leak they always disintegrate.

The roof had caves in and there "may" be asbestos issue.

Once you've had to jackhammer a slab foundation to fix a leak, you'll SO appreciate houses with crawl spaces.

The properties were absolutely filthy on the inside and the outside had roofs that looked as if they hadn't been replaced in 50 years.