Peter, listen to all of the podcasts, go into the lean section and review materials of interest.

A lot of the material is very applicable to the Real Estate game.

Finally, make sure that your utilities are split on multi-families.

In addition to the materials and labor cost for rehabbing, you add an extra step where the design has to be reviewed and approved by the historic people.

Historically, I have paid 30% less for labor and 15% to 20% less for materials than I would have had I waited until the roof failed.

This means you need to use special building materials and you can definitely not lower the ceiling (they're decorated with authentic stucco).Renovations up to 60.000 EUR (and sometimes even 100.000 EUR) on these buildings are tax deductible and even sponsored by the state in Belgium.

You will have a bit higher costs with the 2 properties vs. 1, but this seems like a no brainer to me.Assuming you do get the appreciation in one and none in the other two, you're looking at about $1350 in appreciation each year that can only be utilized if you refinance (spend money for a new loan) or sell.

Typically your rent should cover everything like PITI, repair and maintenance, etc and your tenant pays for utilities.

But generally, in a good sampling of feedback, there is some material I can use about what, if anything, I might have done differently at a property.

If it's drywall use a quick drying material like Durabond.