I have experience in the basics such as tiling, finish work, painting, etc. 

I will be composing a comprehensive FAQ using this information that I will be sharing with the community.

All new fixtures. 5000 Replace improper basement ductwork 3225 A/C coil and condenser 3200 Stairway into basement - bring up to code 2250 Washer/Gas Dryer (stacked) 1800 Paint throughout 1500 Transfer taxes 1200 New carpet - stairs and both bedrooms 1000 Gas water heater 800 new fridge 800 Exterior paint 800 Demo/creation of fridge location 725 Replace wood rot along roof line and cap with metal 700 Roof coating 700 new gas stove 600 Trim repair, doors for both closets, door for 2nd bedroom 500 Window blinds throughout 300 Minor siding repair - rear 200 New screens 150 Total costs 34200 Offer ALL CASH 21799

I have heard of storage/garage or laundry angles for revenue (if you have these to charge for), but for most 2-4 unit owners, the early story is probably not a quick top line growth story (but a slow one as the market will usually incrementally justify increases) but you can improve the bottom line (alot) as a really diligent hands on landlord in my opinion.... so your costs can come down, be it for DIY repairs, painting, mowing, management, etc)... and this in turn helps with happy tenants who will stay (reducing costly vacancies)...

Paint the picture of what its going to look like.About house 13 or 14, I started doing before and after videos and posting them on youtube.

I painted it, fixed some minor electrical issues, and then refinanced it for $260,000.

Some prohibited transactions are things like:Investing your IRA funds into a business you or any prohibited person ownsYou or any prohibited person preforming any manual labor to a property your IRA owns (paint the walls, mow the lawn etc)You or any prohibited person living or even staying overnight at a property your IRA ownsLending funds to a prohibited person or entity.Who is prohibited?

This group is composed of contractors, investors, money lenders, etc. etc., and they are all busy. 

Your FIL is in violation of regulations for lead paint disclosures that went into effect in 1996. 

Once the property is stable then push closer to market in the coming years.So base numbers off of lower rents to be conservative and that rehab will take much longer than expected.This building sounds like pre- 74 so lead based paint remediation among many others things.If rents are at 700 market than calculate for instance 600.600 X 50 = 30,000 mo X 12 = 360,000 a year X .50 ( tenants pays utility ) = 180,000 NOI10 cap value 1,800,0009 cap 2,000,0008 cap 2,200,000At 14k rehab X 50 doors = 700,000 Nice meet on the bone there. 40,000 a door is 2,000,000Too much work for the return there at that level.You need to look at any short sales ongoing for apartment buildings there, foreclosures, current occupancy levels in existing buildings versus demand, and new construction permits ongoing for brand new product coming online in the area.The new product might have tennis courts, gym, clubhouse, pool house, electronic gates, playground, basketball courts, laundry in the units, etc.To add all those things and compete drives up overall costs.Contractor demand for the area is key as well. 3 to 5 years ago contractors were very hungry for projects.