What to look for in an inspection report?

[JC Leach]

Hey everyone! I’m looking to close on my first rental in the Salt Lake area. I had done TONS of research, read several books, listened to podcasts etc... so I felt prepared to jump in. Started making offers that worked for my numbers. Got an offer accepted and the inspection done. Then the report caught me off guard. I realized I don’t know ANYTHING about the construction/contractor side of this. What is your advice on making sure I’m not investing in a bad property? I’ve thought about reaching out to a contractor and paying him to go over the report with me but now I’m down to only a few more days before losing my earnest money.

Any thoughts/ advice is welcome

JC

[Dan Gauthier]

JC, 

Did you go through the report with your inspector? If not, you should. Ask him or her what items are most concerning in their opinion. Assuming you trust your inspector, that's a starting point to analyze your risks. I generally start by talking with my inspector then on his recommendation I reach out to the appropriate vendors (HVAC, roof, etc.). Given that you have only a few days I would absolutely start by talking to your inspector and if he/she recommends it, get a more specialized opinion asap. Good luck!

Dan