I scheduled a time to look into the home and when the time came we went to see it... kitchen had caught a fire and is in complete ruins, there is mold on the ceilings around the place, fire in kitchen went thru the roof and they placed a cardboard over it but from the inside you can still see outside, critters have come thru and torn up the place, the floorboards are all crumpled and lifted, garage is full of trash, the land hasn't been touched for any type of landscaping or lawn maintenace, inground pool is full of sea-like-weed but the biggest issue that I seen was when as soon as you go thru the backdoor into the home are stairs that lead to the basement.

If you have one major expense like a new roof you would go through a lot of months worth of savings.

That one is 1/2 demoed and I am lining up the big players (roof, siding, windows are coming next week, plumber, electrician, etc.).Keeping me busy running around getting what I need and making sure both houses are moving along.

Anything with major structural damage like foundation, roof, drainage issues cost a lot of money and you don't want to get caught up in that situation unless you're getting a heck of a deal and have contractors and pricing lined up for that type of work.

The roof is shot and it's structurally unsound (by the time you try you may as well start from scratch).

Roof, windows, landscaping, carpets, paint job.  

Saw a house with a For Sale by Owner sign in a yard with tall grass and after some drama, we have a house.We have dealt with long term rentals for over 15 years, but not aggressively ( keep them rented and do some improvements ).This "old house" needs, updated HVAC, new roof, new kitchen, some broken windows, upgraded electrical, water run off issues...I'm just starting to clear the house out with multiple dumpsters and starting to get quotes.  

If you belong to one of these regions, you will gain the windfall.But that's not all – rents in MHCs are going through the roof too.

First step is to determine where and why it is,  bad or faulty roof / plumbing? 

I accepted an offer after a week on market for $105k, but it fell out of escrow because the seller wanted the roof replaced.