It's true that the underwriting process is crucial, and lenders may uncover factors that prevent them from finalizing the loan.

It allowed time for invoices from third parties to trickle in as well as the new tenants to move in, get settled, and point out any "misses" that may not have been uncovered in the landlords inspection. 

The ceiling had a crack in it and I had someone look at it last Thursday who said it would be okay until today but it collapsed that night in my tenants uncovered old bed and will now need fiberglass cleanup.Forunately no one was hurt but it seemed like too much of a coincidence as it fell from the side of the ceiling that was less sunk so I think she expedited the process by poking at it to try to get a new bed and is now demanding everything in the room be replaced.

Obviously, do as much due diligence and uncover as many unknowns as possible, but at some point you just have to be OK learning along the way.

You just need to know your numbers, experience level, neighborhoods you want to focus on, and then target specific properties and you'll uncover a deal soon enough.

@Ron Flatt it’s moisture vapor, it’s constantly passing through an uncovered slab.

Technically a tenant can be help responsible for not informing a landlord of water intrusion, but in this case you did have your inspection period during which you had the opportunity to uncover any issues, so that would have been the time to conduct your due diligence, and it sounds like they did let you know about the issue at that time.

I want to be fair and don't want to take advantage of him but I don't think it's fair that I incur the expense of newly uncovered repairs.

These strategies can help you uncover off-market deals that might meet your cash flow criteria.Remember, patience is key when searching for the right investment property.

Whenever you take on a renovation project you never truly know what you’ll uncover until you get in and start doing the work.