Many mid and high rises will have a free or discounted level of internet and cable tv from one provider.

"Quite a bit of work" can mean considerable renovation budgets, plus potentially large, expensive, unexpected items that come up in the construction process.Half of a duplex is also an odd situation, but that may be more Canadian than US real estate.It's really a matter of risk vs potential reward.

This is due to the way REIT dividends are taxed as ordinary income as opposed to capital gains, this makes them a prime consideration for a Roth account and will almost guaranteed significantly outperform the broad S&P500 over an investors lifecycle.  

What are some major considerations?

Morning, I am looking to borrow money from my parents and was wondering what contractual considerations I should consider moving forward.

They also have made considerable money, done well investing in businesses and stock market and now pretty much do what they want.

I was wondering if anyone has any experience adding a bathroom to a property to flip, what costs were, what the value added was, potential issues or considerations, etc.

On 5+ units it goes down considerably per unit.I charge a RUBS - ratio utility billing system of $65 for household of 2 and +10 for each additional household member when it comes to water/sewer/trash and this usually comes out to 60-80% of actual costs (some markets you can get 100% back, but its not legal to get more than 100%).

@Drew McLarenBrian may do things a little differently, but when we underwrite a property, we look at economic vacancy - which takes into consideration tenants not paying, evictions, concessions (i.e. 12th month free), etc - and not just physical vacancy (which you will learn is the easiest kind with which to deal).

The funny thing is , they have no experience in dealing with RE so the "advice" given is taken with little consideration.