When I inquired about it, plumber said lining, it is usually not prefect since this is PVC breakage not just pipe cracks and the cost saving is not significant enough and maybe headache down the road.I will try to get more quotes and maybe a company that specializes in pipe lining options.I was told foundation work / under slab pipe repair is common in the Dallas TX area due to soil type.

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.

Sorry one additional item I hit post too soon...The reason I asked about TIA is because you generally want to get a contractors opinion of cost prior to lease during that negotiating phase so you know how much that TIA covers and what you'll be coming out of pocket for.  

It is easy to underestimate the timeline.It is easy to underestimate loan costs.

Here are additional comments:1) Buying out of state removes any local knowledge you have from assisting in your success, including knowing areas, people and costs. - We always recommend buying your first rental locally if possible and DIY managing to learn as much as possible before investing OOS.2) Lots of crooks and incompetents in the PMC world:( They both cost you money.- As already stated, you'll have a small portfolio.

I am a general business major and also currently working on obtaining my real estate license to become an agent.

How much did the rehab cost and how long did it take to complete?

I don't Atlanta is too landlord friendly and the demographics shift it harder to do business everyday.  

For example, with 5% inflation, a $100 basket of goods today will cost $162 in ten years.

I'm going off the understanding that you still need to spend 500+ hours in the business to achieve material participation (please correct me if I'm wrong).