Home owners have installed new sub floor, new electrical, PEX water lines.

@Justin G. you’ve mentioned ways to increase income, which i agree are very powerful, but another often overlooked aspect is decreasing expenses which also contributes to an increased NOI.

One of the hardest parts of the whole process, besides not having power in below freezing temperatures for 3 days, has been choosing to sell or hold and rent this delectable piece of real-estate.

Yes,  doing systems work and stuff beyond paint/floors/trim sort of cosmetics can get expensive fast,  but so can a roof or plumbing leak or electrical fire.   

All electrical outlets and switches were modernized as well.

Improved all lighting and electrical in the house.

A power pole is about 2-3 feet or so behind the top, and I think the septic tank is 10 ish feet behind that.

Assuming you keep $100K cash on hand for repairs/maintenance, that gives you $1.2M buying power assuming 25% DP, which can buy a lot in Cincinnati! 

It has its own separate heat & airconditioners with separate controls for each floor, but the utilities are all one electric, one gas and one water bill.

If vacant you need to:what is cost of dumpsters vs buying a pick up or finding some hauler to throw away all the demolition  secure and board up and add cameras, get roof bids, order roof parts, roof needs to get on the house ASAPclean out dry wall, everything fabric throw away, cut up and remove carpet, mop the studs and floor with bleach and water solution (5% bleach), inspect electrical - maybe some shorts or problems, order flooring for kitchen and baths and new kitchen cabinets (measure like you are OCD ten times), how is the sub flooring?