The lender on your loan will most likely require a phase 1 anyways on your purchase buts it's good to extract free reports from the bank before throwing out a bunch of money for inspections.

(I also have about $100,000 of equity that I could extract from these properties if I chose to).

I went and got an inside pipe wrench to extract the nipple and as i started turning it it wouldn't grab and just started grinding the inside of the pipe out.

I supposed its possible to extract more money out of a tenant after they have left, but I've never been able to do it.

J Scott - here is some language extracted from one addendum.Originally posted by REO Addendum:...16.

., 3) and balance sheet in order to plan your finances to banking guidelines so that you not only obtain financing but you do so while minimizing the burden of unnecessary taxes, increase cash flow, manage debt expense/rates, and increase equity growth.Most loan officers will struggle with just getting you a loan as they are used to W2/salary/hourly borrowers with very simple scenarios.The hard part about working with self employed/ business owners/ investors as borrowers is that as a LO you'll have to sometimes comb through multiple partnership, corporate, personal returns, amortization schedules, and other tax schedules to determine, analyze, extract, and find additional income to make a scenario work and it not only takes financial analysis skill but also knowledge of the guidelines and most crucially how the LO can sell the "story," whether it be income, occupancy, asset seasoning, or other to the underwriter to ultimately get you an Approval with the least brain damage as possible.Beyond the analysis and loan qualification skill they will help present you with different scenarios to better your investment return, how to obtain your capital again after an acquisition, strategies, timelines, and generally figuring out ways to make your untouchable equity turn to a lump sum of cash (cash out), or how to convert a jump sum of cash into streams of income (vice versa).

A carpet can soak up a lot of water in no time and it takes high powered extraction equipment to get it out, followed by powerful carpet blowers to dry it out.  

If you were selling a property, you'd want to get the most money for it, and that really involves going through a bidding process with a best-and-final round designed to extract every last penny from the buyers.

In a few months I can extract some equity (I expect around 50-60k) to cover costs of getting into my next deal by refinancing with a conventional loan.

even though the lease has provisions for delineating the specific responsibilities, I checked off landlord on all but one.I used to put "AC filter changed monthy" and "Rolling out and extracting waste collection bins on trash collection days" on the tenants, last year I started changing the filters myself after two properties had original filter after six months - I provided 11 new filters in the AC closets.