If you are gonna flip it, you might not be concerned with the "lifetime warranty" of the repair, if offered, but if you are going to hold it for more than one season (wet season to dry season or vs/vs) you will want that lifetime warranty so you can call them back to shim up the foundation because it WILL move again.....and again and again -you get the point.

In fact, you'll find in many PM contracts an indemnification clause releasing them from any liability not stemming from negligence.

It's probably REO, so the electricity is usually off (unless there is very good reason - I went through one that had a sump pump running continuously even though the weather was and had been dry; I suspected a spring of some sort was pumping water into the basement).

All of this stems from the lender trying to avoid their own liability on the property and serves as a good layer of protection for you.As a tactic you can always ask when the borrower is moving out and don't close if they have property in the home.

(painting a rosy picture again).I just don't want people starting their investing career to get snookered into a marginal deal that sucks them dry and crushed their real estate investing dreams.Meanwhile a turn key company has burned and churned another one.It reminds me of new real estate agents entering the business and getting bled dry from businesses selling them stuff the first year until they have no money left.If you are a turn key company then I would have buyers that have purchased and have had great results on my website.Even their name and number if possible.

Some idiot left a (ball check) in place fully inflated on the 3" line.No wonder water form the tubs wasn't draining.Apparently there was work done to the kitchen 7 to 8 years ago before I bought it a few months ago.The plumber says the ball check is to check holding water and pressure test and then is supposed to be taken off and a regular line used or just remove the ball and cap the pipe.Instead he said many times dry wallers just goes over it before the plumber comes back and the plumber says screw it and leaves it.I just couldn't believe it but the plumber has found this before on other properties he has worked on.

This stems from quantify what the repair cost actually is.

This house stayed dry through Irene here and I checked with the neighbors as well as the owner prior to this one who owned the house since 1962.Anyway, the current owner bought this house for a song via estate sale to rehab.

I bought my first rental about 5 years ago before the financing dried up.

Just give it a quick powerwash, let dry, start painting - brush, roll, or spray - all looks good.