Timing of big ticket repairs on older properties

[Sonam Gill]

When purchasing an older property, are there red flag issues from inspection reports that new owners should choose to address proactively, rather than in reaction to a tenant raising an issue down the line?

In my experience with one of my older duplexes there are plumbing issues/leaks that my PM has addressed for each unit over the past year, but I am debating whether it would have been a better approach to address the root cause (dated plumbing system or damaged pipes highlighted in an inspection report) ahead of moving tenants in/in between tenants.  

Do folks find this to be a case by case assessment, or is it better to save time and proactively address some of these major big ticket issues?

[Theresa Harris]

It depends. If something needs to be replace and not doing so will cause more problems and money, best to replace it before it becomes a bigger problem.  A good example is you know the roof is 25 years old and needs to be replaced, do it now before there is a leak and you have to deal with rot and water damage.  Something like a window not opening smoothly, can wait a bit.