Here was a nice, solid six-flat in a troubled area. The owner emptied
the building so he could do a major rehab.
I didn't realize that copper is so valuable. The neighborhood
druggies removed all the exposed copper, and even ripped open a wall to
retrieve some more. Six boilers were separated from their copper pipes.
The moral of this story? Keep some tenants in your building while you
rehab the first couple units. Fill the rehabbed units, then move ahead
with more rehabbing. Empty buildings attract varmints!
I like to begin on the uppermost floor, and work my way down. This
keeps the noise and dust beneath the units that have already been
This property ended up going for $210,000 in a short sale.