If you don't it will negative cash flow.Note that most investors ignore very important items like capital reserves, vacancy, repairs, etc. when they calculate "cash flow" on single-family investments.

Lots of waiting, and incompetence, and waiting, and more incompetence.Along with what Jon already said, it also usually states in the bank addendums that you are not allowed to do any repairs to the property prior to closing.You might still be able to get the deal if you are willing to wait around until they get the issue(s) resolved, but you might be waiting a long time.Good luck with it,Steph

I have a contract with a seller, the house may need more repairs than originally thought.Asking price was 160FMV in as-is condition 170-180ARV 220-240My price 123Original estimated repairs 20-25New estimates 30-35kRoof and asbestos siding may need work, and I was unaware of siding being asbestosWhat are some tactics I can use to get the price down?

My inspection background has really helped with evaluating houses for structural integity verses cosmetic repairs.

Can I expect to see a house in need of dire repairs?

Then there are repairs and/or rehab.

Main house needs roof repair or replacement.

I've always heard "a point" as being exactly one percent of the loan amount.Buyers can ask for credit for closing costs, repairs, whatever.

Is remodeling allowed--replacing carpet with tile, new cupboards, ceiling repair, updating a bath, for instance?

:lol: We did the walk-through this AM, and there is work to be done: minor repairs, painting, cleaning, etc.