Since you didn't provide a breakdown on the expense side please remember that stuff happens where you have to paint; call a plumber; replace carpeting; wear and tear inside; insurance; taxes; mortgage interest etc.

It will need a complete replacement of the bathroom and renovations in all other rooms.

I had an AO Smith that needed replaced it was 35 years old.

Sure we just had 2 done recentley.It was $1800 for one (it already had a condenser and it needed to be replaced)And $2100 for the other ( new install- the house never had Central Air)I know we get pretty good pricing because we do a fair amount of volume with them, but give them a call- I'm sure you can work something out.Mike

I'm going to replace the dishwasher tomorrow in the rental and afterwards heading to Naval Bagels (awesome)..... on my trek to the district courthouse to file my 6th failure to pay rent form.

It is simple formula: By as low as possible, fix what needs to be fixed, replace what needs to be replaced, then sell as high as possible.

Flooring likely needs to be replaced (tile).3.)

The house is in pretty good shape, except some chipped paint, a fence that needs total replacement, some plumbing fixtures.

I am still working through the end of the month so my boss has time to replace me, but after that let's talk.  

The house needs everything: Roof, gutters, siding (asbestos shingles nailed over older cedar shingles), drainage abatement, rehabbed bath, total kitchen, replaced flooring (half), refinished flooring (other half), back steps, total landscape, HVAC (old furnace is missing), insulation (2" in attic; none elsewhere) additional electrical circuits, plumbing includes iron pipes, interior trim and paint.