And so... we have bought an investment home.
The house has been for sale and sitting empty all winter. So yes, it smells stale and stagnant. Actually those terms are mild. It stinks. The carpets are so old and have so much dirt and filth I think they are actually decomposing. But if one holds their nose and squints just right, you can actually envision it with a nice wood floor.
There are plugs and switches that are just empty boxes with taped up wires poking out. I just happen to sleep with someone who has the technology to remedy that. The panel box has 100 amp service. Apparently that's a good thing.
The cabinets have mouse poop and they are dark and dirty. But solid. Probably expensive back in the day. They'll recover from their temporary lack of love and appreciation.
The bathroom is decent. Looks like it was remodeled in the last few years. The light fixture is hideous but that's a cheap fix.
All the windows are vinyl. There are good mini blinds on most of them. Not $10 Walmart style - more like $30 Sears ones. To the untrained eye, this is a non-issue. To those with vision, it's money in the bank.
The 15-year shingles are 26 years old. Long past their prime. Well actually long past their life. They are dead. I've had to promise the insurance company that on the first warm day they will be replaced. I have connections and this will cost only a few hundred dollars.
The seller accepted our low-ball offer after minimal haggling. I've allowed for $5k for a makeover. And all-in-all, even if we decide to get out and flip it, I don't think we'll lose money. But that's not the 10-year plan: Ken & Jade will make the mortgage payments for a few years until they can buy their own place. Then maybe Jed will be ready to live on his own. Then in a decade, with retirement looming, perhaps we'll flatten the shack and have a nice large flat lot on which to build a nice little retirement house on. And it's right here in the neighbourhood which we love... just 5 doors down from where we live now.
And... the house just this side of it seems empty and abandoned... my wheels are turning already....