Most people are trying to be helpful on here, but there are sharks in these waters.

It's important to note that while most liens are wiped out from a tax sale, there are some liens that survive. 1) IRS Liens2) Water and Utility LiensMost important is to understand any right of redemption period.

There is water, sewer, gas, and electric in the street out front.  

A few people (through these forums and in-person) who are just real estate investors have assured me it's purely cosmetic but some of these cracks look pretty gnarly. 

The reason I was going for an HOA is because they take care of the roof when it falls in and the water heater when it gives way.

My final tip is an easy one, drink water!

The $1000 should cover the day to day maintenance items that pop up (water leaks, equipment/appliance repairs, etc), but what it won't cover are the big ticket CapEx expenses (different than maintenance) that you should be budgeting for each month (i.e. a roof being replaced every 20yrs, etc).

Best case scenario, everything is split out (ex. water, electricity, heating and etc.)

Get a price, test the waters, Etc.3) Don't build at all right now.

Plan 2This plan keeps the same hall-way but creates an entry way through an existing bedroom which we use purely as an office room.