Yes, it's better to have expectations documented, but trust your gut.

We plan on gutting the top unit as it is still fairly dated.  

While rehab wise it was going to need a full gut anyway, with the option of potentially adding a 3rd story and making the ARV even higher, the base numbers still satisfied my buyers.

Call me overly cautious but for my first multifamily venture, I can do without the uneasy feeling in my gut. 

When you don’t act on that initial instinct, you start losing more and more control of our business and panic sets in.

It doesn’t sound realistic to de-lead as in actually removing the lead unless you gut the place.

No gut work—things like flooring (hardwood refinish or other types of flooring installation, carpet, interior and exterior painting, kitchen cabinet refinish or install, counter install, window install, bathroom reno, electrical covers, light fixtures, etc.) 

Complete gut renovation of Kitchen and bathrooms.

They jiggle the handle, it stops, and they think nothing of it but the damage was already done.I would change the guts on the toilets and then keep an eye on things.

They got a really good deal on a house because the homeowner decided to gut the house and do the work himself.