Significant defects in the roof and siding resulting from improper handling of materials, and improper installation. 

Also, if these are just minor floor defects in isolated places, throwing a runner or area rug over that area might alleviate the issue as well.

I also caution in taking on more than double the rehab expense you've incurred in the past - especially with a property that isn't tenant friendly from a parking standpoint; it won't be long before the trekking tenant discovers that trolling for street parking isn't the cruise he signed up for and starts parking in the yard, squeezing in the driveway, or starts claiming defects with the property so he can terminate the lease. 

If it is anything like ours it says that the sellers and/or agents know of no material defects.

The Inspector could not find ONE defect or item for us to correct..

Keep in mind whether you are the investor performing work without permits or you acquired a property where the improvements were not properly permitted, you are opening the door to greater liability and less avenues to hold those responsible for construction defects accountable.

If it was fixed then I do not believe they need to disclose it.They only need to disclose defects which it is no longer a defect. 

Hi anyone with a recommendation for a tax expert experienced with handling proceeds from a lawsuit involving defective building material.

I also make sure the broker, if one is part of the transaction is copied and make it known in the email that defects exist and spell them out in a neat and organized fashion. 

In most states the seller is required to disclose any material defects they are aware of.