The Coachella 2020 line up is about to drop and he needs that cash for the ticket!!

Hi @Mendy Blasberg, I would also recommend verifying any income assumptions made by the seller against bank statements and also ensure that you get an inspector that can cover all of the high ticket capex items e.g. boiler, roof, foundation etc.

This costs about $75 per month, or, if I can get one of the tenants to allow me to set up my "Automation Hub" (I use Smartthings HUB in my setup), I will give the tenant $25 per month towards their bill.There are many ways that Smart Devices can help, not only in the case of smoke detectors.I have motion detectors which turn on and off lights, cameras that record to the Internet, leak detectors that tell me if there are problems with my basement, particularly if one of my equipment like a Hot Water Heater or Hot Water boiler is leaking, etc.In fact, I normally buy properties in transitioning neighborhoods, capturing the appreciation as the neighborhood gets better.The Internet Cameras became very important in this situation for 2 reasons:1) I kept getting sanitation tickets for dirty sidewalks.

You may have to change so many big ticket items immediately, roof, hvac, windows?

Three Tony Robbins Tickets for Sale for UGeneral Admission:  Original Face Value ticket prices are $1642.50.   

I'm in Canada and find it faster and cheaper to fly, so I put the plane ticket on my taxes (normal economy ticket).  

I agree something that needs a bit of sweat equity is likely the ticket right now in JC. 

So, the issue comes down to what condition the house/duplex fill in the blank is in.If it is a turn key I keep month or 2 plus I start the tax fund right away and heloc for big ticket items If I get on a rehab roll/stock market sale, it goes down to the numbers above if not this numbers go up.Right now, the stock market is having a sale I am nibbling at it.A house that is rough shape you will need more CASH, you will be doing repairs a lot.

Even airline tickets, you can cancel and get a credit.

It came out to around $125 / month cash flow, not GREAT, but for a first property it's a base hit and gets me in the game.HOWEVER, here are the main issues that came up from the inspection that really concern me:Horizontal cracks in the poured concrete basement foundation on the back and left side of the house with what looks like attempts to patch it with stucco in the pastKnob and Tube wiring throughout the entire house (concerned about getting insurance)Galvanized piping for majority of water supply lines (low water pressure throughout house)Leaking roof from chimney (need to install cricket) and fix upstairs unit wallsOne of the furnace flues is completely deteriorated and needs replaced, currently releasing some levels of carbon monoxide into basementOne of the water heaters is from 1992Some water intrusion damage in main electrical panel and one of the breaker panel is a Pushmatic styleThese are what I conclude as the big ticket items.