When someone tells me that "you won't have repairs or cap ex for a while since the seller just renovated it"... well that property is -$300 to $-500 a month from repairs called in by the tenant most months.

In my case, it was obvious the appraiser took into account none of the repairs we did and just appraised them all at our purchase prices so the bank was happy to wave them.

It is not uncommon for landlords to hope that the condition of their property is "good enough" when really things should be repaired or replaced.  

If so, have them ask their provider if it will cover temporary housing while repairs are made.2.

So at a  minimum you need to be firm that the rent is enough to cover your expenses (including insurance, PM fee, capital reserves for repairs)I'd go on Facebook Marketplace and on any Facebook Groups you find for KSU Housing and post it there (at a rent rate this is actually covering your expenses) and see if you get response. 

Also, consider factoring in a conservative appreciation rate and double-checking your repair estimates.Hope this helps!

Good Offer Price: Without knowing the current bleeding amount, it’s tough to give a precise number, but generally, aim for 70-80% of the after-repair value (ARV) minus the cost of repairs.

You can always put in sweat equity to do repairs / renovations but you still have to pay for supplies and other associated bills.4.

You also want to subtract the repairs from the already discounted price. 

Hey everyone,I’ve been working in real estate for a little bit now, and like many of you, I’ve found that two big challenges keep coming up:Finding distressed or off-market properties before they get picked up by others.The time-consuming process of property analysis—especially when trying to figure out ROI, ARV, or repair costs quickly.I’m curious how you all are dealing with these issues.