It’s where the front door is “open concept “ via removal… or maybe the roof….

Reconstruction would be removing walls.

You need to be sure that if gangs are tagging houses with graphite it's getting removed quickly. you also want to make sure that your not buying on a block where there is a lot of gang activity.

One good question to ask a lender is what happens once you remove all contingencies with lender approval of course and the lender cannot close. 

However I would be more likely to remove it. 

I am no expert but some issues you might want to look out for:- Mold in crawlspace/basement (as well as evidence of running water during storms, we've seen this)- Structural damage/settling (definitely hire an expert on this one)-Improved Electrical/Plumbing (These systems DO have a lifespan and the older systems aren't as reliable as newer ones)- Asbestos Flooring and Tile (Where I am from the removal of this stuff is mandated by law to be done by a licensed professional, no DIY.

It removes them from the grey area while allowing them the ability to offer more solutions to homeowners (cash offer, traditional listing etc.). 

Removed the colonial landscaping in favor of Pacific Northwest Native garden, converted the basement into a rental, and will remodel the top floor in a few years before either selling or renting the entire property as a triplex.

You can't completely remove emotion from it, but how much would it cost you to hold it and what could you get for rent? 

It was my first step into real estate, and I got screwed with repairs that were never made, and lead paint removal.