I will, of course interview and do my own due diligence with these companies, but I just wanted to get an idea from everyone that could possibly give me a heads up on who's great or who to stay away from.

However, the risk of significant repairs is not to be taken lightly. 

House hacking can also be a solid way to offset expenses early on.It sounds like you're diving in with a great mindset and skill set—being handy and managing yourself puts you ahead of the game. 

I got a very good price on the building (about $25k per door), but it was a ton of work as in addition to tenant issues, there was TONS of physical distress (foundation repairs, sewer line and water line repairs, electrical upgrades, new roof, and apartment renovations needed for all units). 

You may need to disclose that you repaired this to buyers and want to include more detailed information about what was done.

I've since had to do a service call for the fridge and had to replace the oven recently as the repair was going to be about as much as a newish used one that was in great shape. 

Deductible expenses include a proportional share of mortgage interest, property taxes, insurance, utilities, and repairs.

@Yents Ybrimovic If the 203k loan only requires 3.5% down and you can finance all the repairs in the loan - then what exactly is your friend contributing?

You are best off getting a plumber out there ASAP to identify the leak and repair it.

If you are going to add value to the house you might be able to get an equity line against the property to use to fix up the property or negotiate some repair money from the seller that you get at closing.