I also started charging an "extension fee" for a few people, which was $25 bucks (half of my normal charge) and I'd give them an extra 3 days to pay, because some tenants didn't get paid until the 5th, when it was due.

Christine Kwasny:I must have misread your original post as I had the impression you were not certain whether extensive repair is necessary.

Dion DePaoli Thank you very much for taking the time to review my plan and providing such extensive feedback.

Besides you will probably have to hire them anyway to conduct the studies and do plans ect to submit during the process.Know going in this will likely not be cheap and it may fail in the end, that's the business risk associated with trying to improve the value this way but it is definitely doable.

.* Conduct a thorough interior inspection.* Conduct a thorough exterior inspection.* Request any service agreement (contractors)* See if the property is in compliance with codes and zoning.* Get 12 to 24 months of income and expense statements.* Review utility bills.* List repair costs to use during future negotiations.Hope that helps!

As to amounts, consideration needs to be reasonable for the transaction conducted, these $10 consideration payments in RE transactions are pure bunk, while done, it is not equitable consideration for a RE deal in thousands of dollars.

After 4 extensions from the Sellers I finally bought the property and just today I resold it for 50K.

Kay,Will Barnard has an extensive thread on this topic.

But, I sold a house last summer with extensive mold damage throughout the attic and the mold had spread into the main bedroom ceiling drywall.

Secondly, I have a tenant who has been using extension cords to tap into the common electricity (the electricity I pay for).