However, the risk of significant repairs is not to be taken lightly. 

I've since had to do a service call for the fridge and had to replace the oven recently as the repair was going to be about as much as a newish used one that was in great shape. 

@Yents Ybrimovic If the 203k loan only requires 3.5% down and you can finance all the repairs in the loan - then what exactly is your friend contributing?

What are some of the best techniques to shut down those who protest against landlords who want to charge high rates in a neighborhood facing gentrification?

It's just tough to know the area, the type of renters, the type of housing, if the repair were quality or lipstick on a pig.I'd think there must be a dozen good PM in Akron. 

You may need to disclose that you repaired this to buyers and want to include more detailed information about what was done.

You are best off getting a plumber out there ASAP to identify the leak and repair it.

Deductible expenses include a proportional share of mortgage interest, property taxes, insurance, utilities, and repairs.

If you are going to add value to the house you might be able to get an equity line against the property to use to fix up the property or negotiate some repair money from the seller that you get at closing.

I know what the rents should be for each of the units (2 vacant and 1 significantly under market), the taxes are listed on the MLS, I’m familiar with the water/sewer costs in close proximity to this building, and I know what percentage to use for my Vacancy, CapEx, and repairs and maintenance based on my knowledge of the local market.