Unknowns and margin of safety -> 5k - 8kI just go done removing all the junk from the house for 1850, and the house looks in much better condition than we had initially anticipated.

I'm debating between Central HVAC systems (separately gas metered) and electric Mini Split Air Conditioning Units. 

Hi @Catie Lawrence, I'd recommend asking your RE attorney or title company of choice if they can provide you with the RPCDisc (Residential Property Condition Disclosure OR Disclaimer), LBP (Lead Based Paint Disclosure) form, and the gov' pamphlet usually called "Protecting Your Family from LBP".  

There are no upfront repairs needed (or at least budgeted) is the property is in good condition?  

For anything that's part of the building... whether you're replacing something entirely or just fixing something, if the goal is to restore to previous or original condition, that's maintenance, so Opex. 

Condition of the Property and the property sat on the market for a long period of time.

Condition of the Property and the property sat on the market for a long period of time.

I have a 7 unit complex under contract. 2 units are rented, 4 are in move in condition, 1 needs rehab. my question is, when im dealing with a bank/lender, are they able to use fair market projected rents (just like I did) when underwriting and evaluating the property for financing?  

I just got my son under contract on one after looking at a lot of resales in extremely bad condition.

I got it under contract at an attractive price due to the poor condition of the property.