If it is in exchange for full ownership, sure. If they get nothing for their investments, then, of course, no.

Looking at costs without looking at benefits, return on investment, etc. doesn’t make much sense.

For plumbing, make sure all the toilets and sinks work, and nothing leaks. Be sure they vented the drain properly, so everything flows down the drain without air bubbles.

Be sure the painter used a coat of primer on the new drywall and joint compound before applying the top coat.

Watch a few episodes of "Holmes on Homes" on HGTV, and you will see all the things that people do wrong in renovation projects. That will give you a good idea what to look for, and make sure you don’t have any of those problems.

1. Do not allow yourself to be hurried or charmed by the person doing the walk through.

2. Do not allow any question you ask to be brushed aside or ignored or put off, if it must be put off for a valid reason write it down on your walk through list

3. Write EVERYTHING down on the walk-through list even if they say they are going to fix it immediatly or try to give any other excuse to now write it down. Write it down, write it down, write it down….i think you get my point.

4. As you do your walk through think of things in small "bites" of course the overall rennovation looks great but think small. What I mean by that is walk into each room and consider it an entity of it’s own, then further more each wall each door each door knob etc. Open and close each door numerous times. Look at each wall individually and each light fixture for cracks or any other blemish. Don’t forget the baseboards and trims around the windows and doors.

5. Take special care with bathrooms turn on each faucet make sure the hot and cold waters are not reversed. After you get the hot water running in the bathroom flush the toilet a number of times and makes sure the water isn’t warm you would be amazed how many times I have seen the plumbers accidently hook up the hot water to a toilet. Look inside every cabinet. Put some weight on the towel bars and all of the wall attached items like tp holder give them a good test if they are "mollied" into the drywall they will probably fail down the road a ways.

6. Is there tile? is the grout sealed is it your responsibility to seal it? ask!. If there is granite remember granite needs to be sealed it is pourous and people often dont’ know that is should be sealed to avoid stains in the future.

7. Check all light switches especially double switched make sure they work of course that is a "gimme".

8. Make sure that you have the names and numbers of the plumbers and electrictians usually you call them direct for service depending on the contractor.

9. Make sure that you get all keys this is difficult and often you really don’t know so I vote for re-keying your locks on your own after everything is done.

10. If new windows or skylights or doors have been installed get a hose and spray the heck out of them make sure no water gets in.

I would give you more if I knew specificially what was changed in the home. OH and one obvious thing make sure that all the inspections are signed off and keep the lists of what the corrections were for future reference and make sure you have a certificate of occupancy

Hope this helps.