In fact what many of them do is slap cheap carpet and paint and change a couple of fixtures and call it new.

At the time I didn't know much about them since we had just purchased the property.After they moved out, we discovered that there was a severe infestation of bed bugs and cockroaches and the carpets were soaked through with dog urine, among other things.

Here are the numbers and estimates so far: Property Type: Two-family, side by side, 3 bed / 1 bath each (vacant)Location: Honesdale, PA Ask Price: $77,000Buy Price: $70,000Closing Costs: $3,341.45Estimated renovation costs: $25,000ARV: $120,000Taxes: $1,840Water: $1,200Sewer: $1,140Maintenance: $500Insurance: $1,611Miscellaneous: $600Rent: $750 / $900 (tenants pay for gas & electric)My plan is to put in new bathrooms & kitchens and clean up the rest of the areas.

. $150 per night, but I pay for all utilities, tv/internet, furnishings, linens, cleaning, and even coffee).

It's in a great neighborhood, but the home is 3300 sqft and needs a lot of work, almost a full gut.I saw a guy go inside as I was walking down the street.. apparently he was helping clean it out.  1st person I've seen at the home in all the times I've passed it. 

I bought a vacant lot one time, believing the prior owner, I just searched their records and all clear. 3 weeks after we closed and I was clearing the property, I received notice from the city the there were $22,000 in demolition and clean up fees from the owner before the person I bought from.

I can never get grout to look clean no matter how much I scrub and bleach it.

-Every single carpet had stains all over it (most came out with professional carpet cleaning except the paint and bleach stains).

I'm not talking about a small problem- I've had notices from the county that weeds were out of control and given me deadlines to clean them up to avoid fines. 

Bedroom Floor carpeting for 3 bedrooms $3,500.00 Sheetrock $2,000.00 Molding (cost included in section 12) Lights (cost included in section 6) Doors (cost included in section 2) Electrical (cost included in section 6) 12.