Isolate the issue or open up completely?

Question

Hello BP members,

In the process of purchasing a house hack. Property has been neglected and I have concerns about plumbing as house is 70 years old and it was neglected by previous owner who simply did patchwork repairs while never addressing the problems.  There is a a leaky faucet in third floor bathroom which has created damage to second floor's bathroom ceiling in addition to some other possible pipe/water issue as it was mentioned that after taking a shower water was found directly outside of the bathroom on the floor of the third floor apartment .  Should I gut the entire third floor bathroom and see what's behind the walls and completely renovate while at it? Or  should I attempt to isolate the problem if it can be resolved with removing just a few wall tiles?

The bathroom tiles wall and floor are in good shape and clean.  They are however the 1970's coral pink along with the bathtub and sink to match .  Just wondering if I should start fresh with ownership of this house and know everything that's behind the walls or save money and keep whats there there if i can isolate the issue.  Property is in B neighborhood but its possible that I may end up with C  tenant with program.

Allana Alex · Answer

Thank you for the feedback.  Based upon your responses i think that gutting the bathroom would be best for peace of mind as I intend to keep this property long term.  You all make a good point about the tenant particularly since I will be living in one of the apartments.  I was just concerned that if i were to use a program I may have difficulty finding a b tenant.  ( I like the idea of a program because of the guaranteed rent but you are absolutely right, settling could come at the cost of peace of mind as well as financially. )

Thank you for your insight and advice, its greatly appreciated.

Thomas S. · Answer

It would be a mistake to allow C tenants to infest a B property. If that is where this property is going do not invest in it. Your investment will be devalued and you will regret your decision.

John Underwood · Answer

If its galvanized pipe definately replace it all now, if not you will just have more headaches later.

Ray Harrell · Answer

1. If you have a B property, why settle for a C tenant?

2. If you really expect C tenants, then why put the money into it? Open the wall at the source of the problem and fix the problem. Would a remodel be the difference between a B and a C tenant?

3. At 70 years, you're likely to have more than just an isolated problem. That age of house usually gets a gut rehab.