I am not overly-handy (I never owned tools until I bought a duplex) - so far I've done basic electric (installing an outlet, adding a junction box, putting in receptacles, removing breakers, fixing a 3 way switch -- all things an electrician wouldn't touch -- or would charge a couple hundred bucks to do, cost me about 7 dollars - literally), replaced an exterior door, removed rotten siding and put up new siding along with replacing the plywood behind it, re-built the rotten framing of a garage wall, installed a ceiling fan, and just about a thousand other things along the way.

And if one year you unexpectedly need to replace a roof and a furnace, that place needs cash instead of generating it.So I'd be curious about how much you have to invest and how much you need to gain in monthly cash flow. 

I'll have about 20% of the purchase price in the bank but I will not be putting 20% down, this is saved for minor updates and to cover for unexpected vacancy expenses, I'll be going for an FHA. 

We replaced all the floors with LVP, replaced every outlet, light switch, and light fixture (finding some serious fire hazards along the way).

So if a light doesn't work, I'll check the outlets close by to see if those work. 

Inspection concessions cover unexpected or non-disclosed problems.

I had a great conversation with @Kay Kay Singh today about the depreciation of gas stations, and thought I would share some relevant information regarding the tax laws for the general benefit of the BP community.Gas Stations (or 'retail motor fuels outlets' as they're called by the IRS) are depreciated over 15 years, and not 39 years like almost all other commercial properties.If any one of the following three criteria are met: It is not larger than 1,400 square feet. 50% or more of the gross revenues generated from the property are derived from petroleum sales. 50% or more of the floor space in the property is devoted to petroleum marketing sales.Here is the link to the IRS publication on this subject where the above words were take from.

Thank you @Justin Robert , he said that the main panel is wired through an old frayed wire and that the interior wire is run outside the house then back in and that the range outlet is unsafe. 

I can't tell where the outlets are but from all of the concrete I'd assume it isn't wired to code for a living space.

Life is unpredictable and unexpected repairs/vacancies could really stir some chaos if you try to buy when not ready.P.s.