The insurance company will need verification of your rental income to properly compensate you during repairs when the property cannot be rented.Prior Flood Damage DisclosureMost concerning is the potential non-disclosure of prior flood damage.

Overall it seems to be in good shape and no glaring damage/issues.Details: Full Duplex- 6 Bed / 3 bath -2,400 sq ft-Asking Price: $600k -Offer Price: $585k with 6% seller credit. 

i see a lot of people (outside CA) using ~$75/squarefoot for a gut renovation.

The current days on market are probably causing buyers to wonder if there’s something wrong, even if there isn’t.

The Tenant Classgreatly impacts rental income stability and property maintenance/damage by tenants.Both Property Classand Tenant Class affect what type of contractors, handymen and property management companies will work on a property.If you buy & renovate a property in Class D area to Class A standards, what Tenant Class will rent it?

I went and did a walkthrough with my handyman and there is some damage that I advised him needs to be repaired (French doors to be replaced and repainting of rooms he painted black without permission) He agreed to do the repairs. 

Your biggest challenge will be what to do when something goes wrong: nonpaying tenants, maintenance, mother nature damage, etc.Recommend you include these in any management agreement you sign, so you're not overcharged when you need these services.

Occasionally, there are cases where some unexpected catalyst will cause an investor to sell, or they receive an offer that was too good to refuse, despite their intent to hold.

In addition if I paid a tenant to $crew me, it may cause me to lose sleep.

I refi'd one more, but there are 7 more that he never brought to me....hopefully yet cause these are big deals for me!