The code being cited by the inspector is below if you care to bother.Thank you.https://codes.iccsafe.org/content/IPC2021P3/chapter-7-sanitary-drainage#IPC2021P3_Ch07_Sec708 Could you put cleanouts within the interior (is there a basement?)

Take the toilet out without damaging it, put a sanitary cover over waste hole, put toilet on shower floor.

The 50% rule - in my opinion- is used solely as a quick back of napkin calculation to determine if it is worthwhile to do more investigating of a property. 

back of the napkin or formal agreements?

But having that initial plan- hell, even a scribbled outline on a napkin; will give you something to pivot from when the market throws a curveball.

For an interested partner- the back of a napkin calculations say that it would take ~475k to be a 50% owner of 8 units in Costa Rica.  

Eric,Without going into too much detail on each line item, at first I use my back of the napkin method with a 40-50% expense ratio.

He believes that area where he will be buying the new homes is going to appreciate and attract more MTRenters, but now, the big difference is that he would now have 3 properties that can go up (or potentially down) in value, go up (or down) in rent, and three times as many vacancies to fill.My back of the napkin assessment is that for only a drop in $200 a month in cash flow, he would control a lot more assets with growth potential and as rents rise over the coming years, the combined rents will increase to a total more than the single rent.HOWEVER.

dont over think this its not that complicated. important issues are.1. cost of capital2. knowing what a deal is or is not.3. good reno crew or contractor  4. good agent that will tell you straight what its worth when done and what level you should rehab to.5. a market that is actually moving napkin math works  trying to drill down to decimal points does not.

We gave him an old lease that said he didn't have to pay water (we newly split the utilities in the unit) and he noticed we charged him for water and then we refunded him (although he continued to send us pics of his napkin math that says we didn't refund him enough).