My system is to use appreciation investments to grow my cash to the point where I can then use the cash to purchase my income producing assets. 

Using the new matrix system you would type in address of home and perform a search within 1 mile of subject property, do a search from 1 year back. 

You have to have a system for managing risk. 

Much of smooth property management is really about having consistent policies and good systems. 

Get it out of your system.

So we outline all major systems (plumbing, electric, hvac), roofing, siding, windows, flooring, ect.

Of course with the lower income properties the opportunity for a higher R.O.I is available, but if the property is being sold with a lot of deferred maintenance and/or the turnkey provider doesn't have good mgmt systems in place, it could really be a nightmare.  

That is why no one can get a home loan because of all the deadbeats riding the system.

In Ohio/Indiana/KY lots of buildings a set up this way, and I nix them out just for that...life is too short :)Problems with these systems are like water in the basement - you fix one thing, and they find another way to screw you...Good for you, Will, to have caught it.  

The seller did disclose it- However you never checked the system professional prior to buying it or asked for repairs.