Originally Posted by
bailey
Well, then by that description of what you do and what your strategy is, you have zero credibility in your asssement of the home's, that are the subject of your disdain, relative "worth".
No one would restore a 10000 squr foot home to rent out. That would be flat out stupid. People buy these homes because of the materials and the old world craftmanship and they want to LIVE there. It's worth it to them.
Further, I have no idea where it is you live, but in my neighborhood, rentals command more money if they have Pewabic tiled fireplaces, original hard woods...etc. Not only do rentals command more money, homes for sale command a higher price if those "old world" elements are in them and not ripped out and replaced with the Home Depot version.
People know they can get joe schmo contractor to lay some ceramic on the cheap... however, there is a large market of people that do not want that. I don't understand why you are pretending that is not true.
You clearly deal in a different market. Which is fine, but in the end, its rules are inapplicable to the market for these homes.