Buy an old building to rent out?

The maximum amount I would calculate again from the expected rents and all that stuff.

I meant compared to a new build.

Renting out a building with renovation backlog only makes sense if you do not want to preserve this property - for example, due to new construction or selling a building plot.

That would definitely be a building with renovation backlog... the current tenants are not really bothered by it, they are also undemanding...

Anyone who knows about renovation and has a functioning network of craftsmen and helpers can find some real bargains. You don’t seem to be a professional, and that is your risk. What else could someone here advise you other than to hire an expert?

It is true that I am not a professional...
However, I could do some things myself, depending on what is necessary...
But presumably, in this case, we cannot avoid hiring an expert or other specialists...

Nevertheless, thanks for your assessments

Personal work is difficult in rented apartments. If something major really needs to be done, it must be done quickly. Or during the week, when you are engaged in your regular job. It looks better with the renovation of the empty apartment. Longer vacancy vs. craftsmen costs, which are also handled quite differently for tax purposes compared to owner-occupied residential property.