Make sure that you have all your notes, pictures, work orders reports etc...keeep copious notes, its one of the most important items.

@Nate PucelThis will get answered based on the contract you have with the roofer and possibly your insuranceTypically a contractor is not responsible for consequential damages - meaning if they break something they are responsible for that item, not for any lost revenues etc.Now your insurance may have rental loss on it and they could go after the insurance of contractor but that also depends on your type of insuranceSo the answer is : it depends on what the agreements are

If this isn't a separate dwelling unit you can't take losses from the rooms / space you are renting and use them to offset non-passive income (Section 280A of the tax code)Rental expenses are limited to the amount of your rental income and the balance of rental expenses is carried forward. 

The new property is the tax shelter that can take some of the burden off of your carry over year to absorb some deductions.

There are not any unsafe items that MUST be repaired. 

One additional item is that I am planning to move out of my current residence no matter what, so will need to rent/buy for that.

I’m doing one now where cash flow supports 80% and a 20% seller carry and my bank is cool with it (but that’s not the norm!)

It’s easy to go over budget or not realize all the items you need to account for until you start ripping into things and suddenly your ‘profitable’ flip is upside down.  

Remember, if you have to carry a gun to collect rent, you made a bad investment decision.

You still have to run comps on everything, determine construction costs & estimate ARV, carry & commission costs, etc to make sure that deal in that market makes sense.