Renting out a home that eventually needs foundation repair
Hi all,
Working on a SS that may close soon. The home in question recently got a foundation repair estimate of $11K (in Texas), which is on the high side admittedly. I plan on renting this home out long term, and my question is, do I HAVE to fix the foundation now before I rent by law? If it's deemed safe and I fix the cosmetic cracks in the walls?
My concern is when fixing foundation I heard it can ruin the plumbing and that's an extra expense. If renters don't care, and it's safe, I don't see the rush until I am ready to sell.
On the flip side, if I have to re-do flooring anyway, it may be a good time to let them tear the place up.
Thoughts?