The more you know about what is involved in renovations and repairs, the better suited you will be to take on any project.But, real estate is capital intensive.  

Repairs after tenants move out also are significantly higher. 

Cutting corners to save time might seem like a good idea, but it can lead to expensive repairs later on.

@Rochelle GerberHere are some of the downsides of putting real estate into an IRA or 401k.No tax deductions: You can’t claim deductions for property taxes, mortgage interest, depreciation, repairs, improvements and other property-related expenses.Property expenses: All expenses, repairs, and maintenance costs must be paid with IRA or 401k funds, and you must pay others to do repairs and manage the property.

Many new investors get excited by high cash on cash returns in the midwest and buy rough properties in D areas and they get smoked by property managers, tenants, vacancy, capital expenses, repairs, turnover costs, etc. 

Rents were well below market and substantial repairs were needed.

@Grace Hartman Most of the time sellers offer credits instead of fixing repairs.

Mostly messaging with guests regarding issues, questions, concerns, as well as coordinating repairs and restocking supplies. 

I'm doing the best I can, the bigger house will probably cost more for purchase and repairs. 

The only things I have seen them take are comps and a full repair list when they are appraising the final flip.