If an inspector finds the outlets aren’t up to code, the parties might negotiate a credit from the seller to address the issue, with any further repairs being the buyer’s responsibility.

Just be mindful of FHA loan limits, potential refinancing delays, and keep a reserve fund for any unexpected repairs.

I inherited the home I had been living in from my mother which needs some repairs in order to be rental ready- no mortgage on it.

I've also read there are options where you agree to pay the first $7000 of repairs and the seller cover the rest.

If the window will not stay in the open position, an inspector, who checks that specific window, will fail it and require repair in most jurisdictions.  

In addition you need to budget for maintenance/repair, capital expenses, and also to cover the vacancy/turnover the next time a tenant leaves you.

The good news is that you can fill out a form, provide the receipt of the repair, and they will credit you about 1/2 of the bill

You can deduct expenses like mortgage interest, property taxes, insurance, repairs, and maintenance costs from your rental income.The biggest advantage is depreciation—this allows you to deduct a portion of the property’s value (excluding land) over time, significantly reducing taxable rental income.

The formula calculates the maximum amount to pay for a given property once two key factors—the after-repair value (ARV) and estimated repair costs (ERC)—are considered.The 70% Rule Further ExplainedThe 70% rule states that real estate investors shouldn’t pay more than 70% of the ARV minus the repairs needed.

Government will inspect your property annually and most always find some items they will require you to repair.4.