Home prices shooting through the roof because, cheap-$ right.     

I could see investors flipping these properties but you'd have to push the market really hard or have extremely cheap labor costs (probably both).

Typically, the seller wants it done fast and cheap, which often does not equate to the quality you would look for as the owner.But, it is possible he wants to do the work because he has top quality contractors that will do the work well and for less money than you could yourself.  

A leak that just happened, or seen/caught shortly afterwards, usually does not have enough time to leave behind the chemicals and moisture needed to form mold.Like was said, a small sheetrock repair is cheap to do/fix if you want to test it yourself. 

Here are some pros and cons I have thought of, but I would like to hear others:Pros- Vacation to your own rentals in multiple destinations for cheap- Portfolio is more diverse.

I live in the Chicago suburbs, so just about every type of neighborhood is available... cheap, expensive, old, recent construction, well kept, run down, etc.  

It's a frustrating experience and it's not cheap either. 

I was thinking the same about bigger pockets that there is a ton of info for free/cheap.

An hour or two of our time might not be cheap, but it is a lot cheaper and easier than having to redo it all.

A $89 / night rate is not cheap after a $150 cleaning fee is attached.