Market Rent should be 1200 and the trailer needs around 15K in renovation which includes a new packaged unit Heat Pump.   

The appraisal value will easily meet and exceed what I am paying for the property but according to my appraiser, the house may be considered a C6 property (unsafe) due to a variety of factors including a deteriorating deck, missing electrical outlets, the water, AC and Heat have been turned off on the home since no one has lived there the past year.

What I do know is;- 100+ units- Concrete foundation and floor plates of ~ 15K sq ft- No underground parking- Early 60's construction- If some piece of piping or wiring has not been stripped, it will likely have to be taken out anyway- I assume that it is also concrete between units but was stick construction inside the units- I assume that everything has to be done; Roof, Elevators, Drains, Vents, Heating, Main Power, Sewage line, etc, etcI understand that there is a lot of details to figure out but anyone experienced with multi-family redevelopment care to share how to do back of the envelope costing on something this big.Thanks,Oren

In Bridgeport Connecticut where it snows and gets bitter cold we have to explain why we need to tune up furnaces BEFORE the winter hits to prevent problems like no heat or frozen pipes. 

If the deal is good enough, i would inherit the tenants and get rid of them one at a time. especially in this cold winter. let them pay the heating bill for another month..lol

The available options for warranties break down into things like:exterior main water line coverageexterior main sewer line coverageinterior plumbing line coverageHVAC (cooling system) coverageHVAC (heating system) coveragehot water heater coverageelectrical system coverageWe broke down two viable options:Option 1:  Evaluate Risk/reward likelihood on each property as to whether we get individual coverage, total yearly cost of this is ~$2100/yr which comes to approximately ~2% of our gross rentsOption 2: Go with full coverage on every property we own, total yearly cost of this is ~$5100/yr, which comes to approximately 4.5% of our gross rents.We usually work off a 15% goal/assumption (of gross rents) that allows for costs tied to vacancy/maintenance/capEx items, which so far (been operating for 3-4 years) we have been significantly under that. 

The house is empty but the heat is on. 

If it's poorly insulated- the heat will melt the snow, then as the water will freeze to ice as it runs down to a lower, colder point on the roof. 

The solar covers all the tenants' electricity (UNLESS the tenants start a grow op or try to get around gas heating costs by using space heaters.

It was significantly cheaper than waiting for it to fail and replacing it during the heating season.