Please help me read my first deal's home inspection report

[Shane Sams]

Hey everyone!  I'm buying my first deal.   Just got the inspection.

Would love some help looking for anything that may be a red flag.

The house is a 3x1 single family built in 1970.  It's was recently flipped and I'm buying it for $66,000 post flip.  I should be able to get around $800 rent for it.  I'm putting 25% down and my rate on the loan is 4.5%.   It passes the 50% rule, and It's on a pretty big lot.  May have room to build something else on it later.

Here is the home inspection:

https://drive.google.com/file/d/0B9xo5LHfwd6GcnRvR...

Roof and structure look good.  The big stuff seems OK.

There are a couple minor things that stand out to me:

The hot water tank ventilation is wrong and needs adjusted, minor fix.  

Kitchen sink leaked when tested, but it's all in the pipes and just needs put together correctly.

The electrical isn't great: some ungrounded outlets and a double tap in the box.  Thoughts on this?


What else am I missing?  I've bought a few houses I've lived in, but I know I'm no expert at this stuff and would appreciate a more experienced set of eyes to glance over this for me.

Thanks y'all!

[Sam Shueh]

Focus on page 19 do what you can.  The form is what we used in west coast decades ago. These days all images are there from a drop box to allow users to interact with write up.  I have no clue on insulation, windows, fire alarm, CO detector, fire retardant door thickness. In our area, an inspector identify the roof life, flashing, chimney, flue etc. Attic insulation thickness(R value), window condition. Gutter maintenance. Kitchen sink leak, garbage disposal? dish washer cycling is all I can get out his penmanship. He said nothing about toilets, water damage below the home and flooring conditions. These are big ticket items.

Try to figure out the total repair and work on the important deficiencies.