The longer slit is for your neutral wire and the shorter slit is for your hot wire and if they are 3 prong they will have a rounded opening in the center of those two, that is for your ground.

I guess I need to make one more thing clear, I haven't purchased a home in over a dozen years so I am just trying to avoid what would essentially be a "rookie" mistake.The listing agent may end up doing dual agency and remain neutral.

@Roy Callan - Congrats and good luck with your FSBO find, but, I totally agree with @Larry F. that you should give your earnest money deposit to a neutral 3rd party for safekeeping.Please keep us posted on the outcome.

Pull up the flooring, clean it the best you can with odor neutralizers then paint the floor with latex paint which will trap the odor generating urine.  

I am a computer programmer by day, with a wife and 2 kids.I am currently in a buy and hold condo that is cash flow positive along with our primary residence that has an in-law apartment that is cash flow neutral (family member).I am looking to expand my real estate investments in Niagara County, NY.  

I wouldn't plan on cash flow, but instead try to be cash flew neutral (have the your mortgage and cost paid for)If you are looking for strong cash flow this is a completely different approach.  

Neutral paint colors or even ten bucks on a fancier door knob can make a difference between what a buyer think as 'cheap' and 'high end'.Finally the numbers.Purchase price: 52kRenovation: 78kAll in: 130kSale price: 210KAfter closing costs my partner and I split 60k which I was pleased with.

In a neutral or buyer-slanted market, closing cost help from the seller can be obtained. 

This type of situation is very typical when there is only a GC/Owner relation (i.e. no third party to be neutral; like an architect or engineer).

Just over 10 years to hit a net cash neutral since purchase.The rents are too low to allow for proper budget of the maintenance/cap expense unless you plan on doing the work yourself.