I hired out some of the plumbing and electrical.

Hi BP fam,Recently I went to see this property seating on almost one acre and in the lot there is the main house and then a separate structure made of cinder block of around 1300 sqft (has kitchen plumbing, ceilings are around 12 feet tall, no bathroom, no electrical) and my interest in submitting an offer is the idea of making that second cinder block structure in to another house. 

I am hopeful that this number is much higher than what actual expenses will be for the first 5-7 years, because almost everything in the property will be new: new roof, new plumbing, new electrical, new appliances, new kitchens, new bathrooms, etc.Generally, I've seen people use 10% of rental income as a hand-wavy estimate for ongoing expenses, though on older homes you may want to increase that to 12-14%. 

Has the plumbing been updated or does it have the original iron supply lines?

Account Closed I used Ray Lusk Plumbing for a sewer scope inspection.

If it's not a plumbing pipe, a common cause is a bad boot on a vent pipe that goes through the roof.

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It’s a complete gut and remodel, including all new electrical, plumbing, sheetrock, installing beams, new HVAC upstairs, etc.I am over budget and haven’t gotten to the landscaping yet because the house was built in the 1940’s and there were a few things that we didn’t anticipate during the renovation planning phase.Just some things to think about.

Rooking mistake on an 1,800 sqft house that we had to Killz twice before we could paint.2) if the plumbing has a leak just patch it don't replace the whole system. 

It has been remodeled, new septic, new plumbing, new airstream, has barn(falling apart), all the bell's and whistles.