I just bought a deal that was great and the wholesaler made 36k, which is more than made on it, and I congratulated him after I saw it at the doc signing. 

Roof is leaking?

Roof is leaking?

It would be well worth spending a few hundred bucks for a local attorney and CPA to answer these questions and help prepare your docs.

Some surprises I've had in this area:Sheriff kicked door down in one house b/c they had a warrant from a previous tenantFound a gun in one house (ended up being a BB gun but looked like a 357 revolver)Had tenants leave the house, left all their stuff, and never heard from them again, after living there for only a few monthsHad a water leak in a ceiling that flooded my garage and damaged ceiling in dining areaOn the positive side, have provide safe, affordable, clean housing for some great people.

I am preparing all docs/strategy on my first (on purpose) flip.

Many HOAs have language around rentals in their docs.

Walked roof and says roof looks ok , but wood rot in attic from prior leak and water stains on roof but not wet at time of inspection.

The majority would be for taxes (doc stamps on the deed).

She did express to me that there was a leak under the sink.