Bryan,I have bought several Fannie Mae / Homepath homes including 3 in Cape Coral, Florida. 

Aluminum coating is silver but you can also buy a white or black roof coating.  

Scenario A: You find a SMOKIN' HOT deal on a House- you advertise it via (craigslist, signs, newspaper & 10 people call you salivatingSOLD to the lady in the pretty black dressB: You place a ghost ad on craigslist or do some networking & get a list of 20 buyers.

Buying it right and adding an "oh crap" line in your  budget can keep you in the black. 

If I took the duplex up to the prevailing new/fancy standard for rehabs in town (black appliances, new cabinets, fresh pergo floors, etc) I think they could each rent for $720-$800/month.

Oh and a leak i=under my bathroom sink they supposedly fixed and i found on the other side of the wall( my closet) that there were black stuff on the other side of wall that had fell off( its a wall piece that comes off to get to bathroom wall pipes) all they said is that is was a fungus... any who i have work orders and i want to know how to go upon getting out of lease.

Let me quickly explain my market:Typically there are very distressed properties (1200-1500sf SFH, cape cods) needing ~$30k in renovation for sale in my area for around $150K-160K.

Not everything is very black and white, however, and a lot may depend in some situations on how much useful, depreciable life is considered to be left in the asset replaced. 

I am just across the bridge from you in Cape Coral, let me know if there is anything i can do to help you get on your way.

@Shayla Fletcher I check all properties at http://maps.lsuagcenter.com/floodmaps/ If the flood hazard areas show in blue, (or sometimes grey on old black/white maps) that is the effective map that is used to determine flood insurance rates and whether or not flood insurance is required by lenders.