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Updated over 8 years ago,
When is a great deal, not a great deal??
Hello everyone, so I am looking into my second rental property. The numbers look good as far as cash flow and Cash on Cash return. My question is concerning the repairs and potential out of pocket expenses in the future. I know there is not right answer but just looking for feedback. The only major issue is the roof. It's old and in terrible shape as well as decking and fascia rotting. However, there are no active leaks at the moment. The other issue is that it may be an asbestos roof. I have already called my roofer and he should be able to tell me more and give me an estimate on the repair.
Should I continue to analyze and get more figures or should I turn and run if it is indeed asbestos even if the deal has great numbers? I can also post numbers but I wasn't sure how necessary that was. I'm a newbie to posting and answering questions. Any feedback would be great!