When that buyer closed did they review the roof warranty ahead of time and what is required for inspections to maintain the roof?

The question becomes, is there any way to legally repatriate the income as 'active' income to maintain the favourable tax treatment in the US all the way into Canada.Still researching...

There are also additional costs of operating and maintaining an LLC, like separate bank accounts, annual report filings, tax filings, etc.2.

Quote from @Mike Dymski: Has to be tough to grow or maintain a real estate investing podcast right now with so few transactions. 

Be suspect of any and all unpermitted work.Older homes can be just fine or a nightmare depending on how it was maintained.

For a home that old that seems to have major issues and old systems, I’d personally want it close to land value unless I could see it’s been solidly maintained throughout the years, unlikely if it’s been a rental a long time.

It's definitely a frustrating part of the business, especially when you're trying to maintain cash flow and unexpected repair costs pop up.One thing I've learned is that some of the more real estate investor-focused insurance companies tend to be a bit more lenient on inspections or are more upfront about their requirements before binding the policy.

@Khayla WilliamsI strongly recommend against borrowing 100% for a propertyThere is significant risk in owning real estate including section 8 and maintaining the home in a certain condition and if you do t have the funds for those repairs you could lose it all.I always recommend people budget and save enough for a down payment and reserves before getting into their first property.

However there is a whole education process to take a life long renter and teach them how to actually maintain a houses.. 

I would think if association is responsible for maintaining roof and it caused the damage, then they’d be responsible unless docs state otherwise.