Now, you have an appreciated first rental that’s hopefully generating cash flow, and a multi unit that provides a roof over your head and 1-3 units paying down your mortgage while all units continue to appreciate.

It varies from county to county on how they handle it and some give great exemptions or a flat reduction to value. 

HVAC duct work insulation is also deteriorated.No vapor barriers installed eitherSome fungi/mold growth notedPlumbingMultiple small leaks under sinks and from bathtub and toilets.House has Polybutylene plastic plumbing which is dangerousMain shut off valve is damagedElecticalSome small exposed wiring and bad splicing.Whole house has no GFCI's or grounding outletsInteriorMoisture spots on ceilingExteriorLose Vinyl SidingDoor Jams and Window trim have moisture damageDriveway need replacementRoofingMinor leaks noted in atticRecommended to replace roof covering, but not whole roofSome fungi growth noted in roofSo some of the question I am trying to tackle with this work is:How much should I budget for the main issues listed? 

I’d also ask how it’s structured - typically they are tiered (5/4/3/2/1) but I’ve seen some flat prepays as well, meaning the % of the penalty doesn’t decline during the prepay period.  

Growth is generally to the southwest into/towards Wolfforth and some to west towards Levelland (yes, it is named for how flat the area is).

I tried to estimate what a GC might cost in my calculations, but I have an uncle who does roofing and cousins with window installation and landscaping businesses, so I believe I can save some significant costs through their help and guidance. 

Your HOA will likely keep increasing and because of the excessive heat, roofs get replaced more than in other areas and if the HOA is not super liquid, that will come back to you in the form of an assessment.

We have also found our that the sellers lied on their disclosure of what they knew about the hail damage to roof.

The idea was to purcahse the land, sell the timber, and have a flat land for development or resale. 

About a month ago I had a contractor replace a roof that got damaged from a storm but when they had the shingles off another storm blew through overnight and blew the tarp off and a lot of water got in the house.