He said to insure a rental property with them the property "must be less than 60 years old and have had recent updates (last 10-15 years) to roof, HVAC, electrical and plumbing".I don't have a problem with the recent updates part of that but there are a number of areas locally I am interested in that have homes more than 60 years old.

I have a really good sense of what he costs for most things in the sense of a flip (new kitchen, new roof, new paint, ect), but I've never had a project built from the ground up.The only idea I have on what new construction costs is the quote my insurance company gave me for a rebuild of my 3200 sq ft home if it were lost due to a fire: $570K.

New furnace and water heater, roof looks good, foundation looks good... the only thing I can find wrong is it needs updating and some newer flooring in most rooms.I am trying to figure out what "number" would be my max offer, and where I should start.

So this week I may be starting a roof for them without a deposit, but I'm getting paid for the roof I finished a week ago.

Cap Ex is money you save this year because you'll eventually have to put in new furnaces and repair the roof.

Since we'd incur 50% of the cost even for unfinished space (grading, permits, foundation, framing, siding, roof, etc), I can't imagine we ignore that cost.

Roof seems to be in good shape with no dampness in the house.

On one hand, I think it is an awesome opportunity because I would be getting 4 units under one roof, with little to know renovation needed and only have to pay closing costs once versus trying to chop the money up and buy a duplex now and maybe another in 6 months.

If the house was built in 2008 it should not need a new roof unless there was a softball size hail storm that punched holes in it.

If you can't afford to hire professional treatment for this, what will you do when the roof or heating system fails?