The existence of a dry cleaner business on the property will likely throw up a red flag. 

I'd say there's great opportunities in every market however if you're not educated on how to play at this point in the cycle you should sit on your dry powder for a while.There's a lot of dumb money in the market that will get transferred in the next correction. :)

Contracts are pretty cut-and-dry and easy to follow, especially for an attorney.

He charged me $12 for two clamps and a 2’ piece of copper wire.Then the inspector decided that my porch floor was rotted.

Unless Amazon moves into the RE market, and starts stacking shipping containers, renting them to millenials as studio apts, and undercutting me on price, I'm going to be good. 3) On the other hand, if liquidity dries up nationwide, as it did in 2007-9, I suppose the worst case scenario is that my bank doesn't want to refinance a few of my 5/20 year/am term loans.

I actually don't worry too much about an aged roof as long as no evidence of serious wood rot because it's pretty straight forward to just reroof something.

The combination of cash flow and appreciation is just too sweet.Even the middle segement 300k to 400k is dry.

But when I say full gut and rehab I'm talking: taring everything down to the studs, updating plumbing and electrical throughout, probably upgrading the panel, adding duct work for heating and cooling, new mechanicals (boiler, A/C, etc) , hardwood floors, new kitchen, new dry wall and insulation, paint, finish work, etc.

So your insurance company will allow rots?

I spray the leaves with Round-up on a warm dry day (normally wouldn't use it, but sometimes chemicals are your friend), then plan to go out in a day or two and remove as much as possible.