Water damage deal breaker or no?

[Tiffany M.]

I’ve found an ideal 3bed/2bath home in the Memphis area that I would like to purchase and renovate. I’ve looked at the comps, rental estimates, neighborhood demographics and everything so far looks good! My only concern was that there are several moderate size holes in the roof.. Water was puddling on the living room floor when I viewed it.. I didn’t see any water damage to the walls. Could this be an easy fix with a new roof and carpeting, or should I reconsider??? I’m definitely thinking about coming in 10k lower than asking price to possibly help cover any unknown costs!

[Jim Goebel]

@Ned Carey

Ned I know we don't all have the luxury of picking the perfect way of acquiring learning opportunities, but I'd be very careful if I was OP about this type of damage if she's never managed a project that involved for instance replacing sub-floor and flooring (and possible structural roof members, roof sheeting, and shingles).

From the nature of the question I'm not sure that the foundation is there to be successful.  Not for me to say and I don't feel I have enough info on OP's background - however the 'full steam ahead' mentality comes with (earned) experience, which you may have but the OP may not.