Once there is a work around for folks to claim damages and get thier hardwood floors refinished and to purchase a good amount of new furniture, the flood gates will open.  

The lower floor is entirely under height and the fellow that ran his GP practice hadn't done any improvements in decades.

I have not gotten a official inspection yet, but based on my inspection of the house it needs the following, heat/air unit, appliances, some flooring(laminate is torn). 

We also have office space on the first floor. 

I was thinking about marketing to a smoker so I wont have to tear the place down and start over with new flooring and walls.

Asking Price: 260,000ARV: 240,000Offer Price: 210,000 20 % down on 30 yr fix 4.125% conventional loanClosing Cost: 10,000Target total cost: 220,000Monthly P&I Payment: 1,800 - 2,000Annual Tax: 9,275 Potential get down to 7000 - 8000 Rental Income: 2100 - 2400 Potential 3500 if sublet by roomPotential cash flow 600 - 1200 monthlyRenovation budget: 20,000 (needs kitchen)Features: 6 Parking SpotFinished AtticFirst floor office space2nd floor 4 BRNear Train station to NYCIs there any other thing I need to add and what do you guys think?

It is flooring time again in a duplex I own I was quoted $1750 for a 114 sq yds of commercial grade carpet.

Also Mindy Me even mentioning $369 was irrelevant, really $329 is conservative as this will be 4 bed 2 bat 1750 Sq feet.  10 doors down(not adjacent to highway though)  A 1 story 2 bed 1 bath 1300 sq ft home with identical first floor plan just sold for $299K and there are many more comps to support. 

What if this is a first floor of a multistory building?

I stayed in my rented apartment for another month until I had fixed all the essential appliances, painted and put down new flooring. it was a mild inconvenience for the extra 60,000 in instant equity i had one year later.