READ CAREFULLY: March 7 I will ask judge to remove house from estate of dead owner. (She named me personal representative in October) Then Detroit Land Bank says only I own it til it's up to code. You the investor and future owner and I must hash out agreement since I will be bound by law to own it for interim period. I have rehabbed 6 Detroit houses in 10 years. I know what this requires. But I don't want this one. It's far from my own area off Woodward and it's too much for me alone. It's a scrapped out Detroit side by side duplex. Total rehab needed. No pipes, no wires toilets or sinks. Water damage in slate roof seeping in several spots all the way to the first floor. Third floor is tall and big enough to make bedrooms out of. Basement is tall and big enough to be used day to day. much of the wood floors will sand up well. Contractor's estimate to redo brick and concrete on front porch $30,000. Add $30,000 for roof. Add $20,000 for more structural work. $25,000 for electrical. $20,000 for heating. $30,000 for bathrooms. $40,000 for kitchens. That's 200k and you are still not done. Think 300k. Empty lots behind the house turned into a park by non-profit progressives. Good sign of direction of the neighborhood.
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