So keep an eye out for any major improvements needed in the first few years of your ownership (roofs, exteriors, HVAC, electrical rewiring, etc) Things to know before starting: Make sure you buy at a basis in-line or below market comps (on a per unit or rent multiple basis).

Exterior accents are new windows, roof, and determined from sellers age and latest repairs it needs $150,000 of work. 

Look out for potential issues like plumbing, electrical, roofing, and foundation problems.

We feel very confident in our underwriting, but given the jump that we made from SFH to an apartment building, we want to ensure we're not missing steps in our DD/inspection plan.Here's our current plan:1) Have a general inspector complete a Property Condition Assessment.2) Have specialists complete an evaluation of the roof, electrical, foundation, and heat source (2 steam boilers).3) Review financials, all leases, existing service contracts, rent roll, tax assessment, rental certificate, and 12 months of work orders.Here's what I'm not sure about:1) Are there DD items (specifically those that we would request from the seller) that are not captured within #3 above that we should be requesting?

I spent about $13k fixing up the first one, including a new roof; $5k on the second one; and about $3k on the last one.

@Joshua SunThings that drive the ARV the most - roof, plumbing, flooring, paintThings that don’t drive ARV as much - windows, landscaping, driveway

Where I lack understanding is at what point do you start making money for example you buy a duplex lets say it was 300k the monthly mortgage is 2,500 each renter pays 1,500 thatd 500 cash flow which is I guess “profit “ but as the landlord you're responsible for major repairs such as but not limited to roofs, plumbing issues, electrical issues that all can be expensive you would have to have money saved so that 500 cash flow is profit but wouldnt it just have to sit in a bank account? 

If you have a great job where you can absorb things like, a new $4,500 AC, or a $10,000 roof with little concern - a cash flow play could make sense.  

Planning to do the same to the second unit in August.We've been doing lots of landscaping and plan to:-replace the front fence-replace the shed -paint the outside -add better ventilation through the roof What made you interested in investing in this type of deal?

Renovated kitchen and bath along with renovation on 100 y/o hardwood floors and new roof to make this a downtown Concord gem.