hi zion. let me give you a quick education on how you can do this. first, let me say that doing it yourself is not a great idea. yes, you can learn how to do a pretty good job, but the experts are the experts, thats why you pay them. that being said, here is a basic education. go to the record of deeds office or county clerk or whatever you call it in your neck of the woods. sit down on a computer and plug in the address. look for anything and everything to do with that house. look for liens especially. after you find any open liens for the last, lets say 50 years, look forward for lien releases for each and every lien. if you find the releases, then those loans/ liens are finished and will not be a problem, unless something stupid comes up on them where someone signed in the wrong spot or the date is wrong or something like that. anytime someone places a lien on a house, be it a mechanics lien or loan or back taxes, they have to file paperwork with the county to do so. it will be recorded. anything that is open and has not had a release of lien, is still a valid claim against that house. simply put, the complications involved here, especially if you have never done this before, is exactly why you pay an expert to do it for you. good luck

I would prefer to fix plumbing and HVAC issues -Full electrical rewire including service with gutted house @ 15k -Hardwood floors and install (low grade wood) @ 10k-Furnace + Water heater @2.3k-Drywall material and labor @ 10k -Plumbing supply replacement and drain refresh @ 3k-Roof @ <5k Every market is absolutely different, so you are right that possibly in Oregon and definitely in California a buyer would request wiring to be re-done on a house that wasnt priced accordingly.

It isn't perfect, but the premiums give you a feel for the "extra cost" of doing business.

It appraised for $14k over what we paid, so with the remodeling (getting rid of fake wood paneling throughout, all new trim, complete kitchen reno, etc) I'm hoping we should be looking pretty good in 2 years if we decide to sell!

(I am a lender) pricing is determined by LTV if your appraisal comes in lower and LTV is higher theres more risk and a premium is due for that given risk.

I am looking to get an open wood porch (or perhaps metal).  

Deep woods off is our best friend in the summer when hiking here.  

If this is for a long term, you only have a limited number of mortgages (4 easily, but 10 total) you can get under traditional financing, so this comes at a premium.  

The market right now I would say favor the fix and flip even if you end up paying a premium to get a property.

At least, in my neck of the wood he would - the regulations vary somewhat from state to state so check with some local people rather than take my word the definitive statement on this.Good luck!