Im a huge fan of @Michael Blank and have studied his material for a long time. 

The deal was truly off market so I didn’t have a broker OM or any marketing material to browse through.

You can call it speculation but real estate goes up over time, almost a guarantee simple based on the cost of labor, materials, and the land it takes to make real estate happen.. not to mention, population growth.

But sometime people come here and see what materials cost at Lowe’s and think they can do a house for 40k and lose their shirt.

You should not have to pay for someone that did this work to do it properlyDo not pay anyone in advance more than material cost plus something like 10% of work cost.

Rehabbed (myself) all 7 units using the cash flow from the property to finance the rehab materials.

I have been shopping for materials and between full kitchen, full bath, interior paint and floor refinishing it will be just shy of 7k before labor(90% of that labor will be my own work, aside from electrical and plumbing which will be licensed and insured professionals). 

The options my brother and I have come up with is gut the entire house and rebuild it with modern materials and up to code.

You buy materials in bulk, you get extra discounts, you bring labor in house; etc.

Because the master HOA policy only covers my unit as it was originally built, so if I have a fire, but no H06, the master policy restores my unit with the same quality materials it was originally built with.