There are codes around what constitutes a bedroom (closet, window, proper egress, etc.).If you only think you're going to hit $100/month/unit AFTER your upgrades, etc., that's too tight for me.

Purchase price: $33,000 Cash invested: $10,000I bought this house at auction, with no inspection, other than a drive by & look in windows.

We had not originally planned to replace 20 windows, but it looks like we need to.

Or to stick my head in the attic to sort out the load bearing walls, push on the walls under windows to find rot, take off a switch plate to find out the truth of how the house is wired (just because you see new wiring, doesn't mean the whole house has actually been rewired) and so forth.I'm always asking neighbors if they know anyone selling their beat up houses whenever I'm out working. 

Ok, I'm gonna start asking questions.2 years ago I rehabbed a house by bosse high school  (Washington and 41, east side of 41). 700 sqft 2 bedroom 1 bath Repairs came to roughly $30k (strip to studs, all new everything plumbing/wiring/drywall/roof/windows/etc...)Assessors site values it at $49k.

All windows (17) replaced April 20196.  

There's, I believe, a 10 day response window for the landlord after being contacted. 

Just washed windows.  

We threw a FSBO sign in the front window and sold before completion saving us the cost of landscaping.

The property is in poor condition but the upside is a new HVAC, roof, and a couple new windows.