Of course, you get the property in its current condition, so you may inherit bad maintenance or environmental issues.

I will add the fact that there are things you need to keep in mind when it comes to the HOA fees, Never go with high-rise buildings because those common area fees paid by the HOA will kill you, I typically look at Garden-Style or 4 stories and below, I do have one property that's in a 7 story building but the fees were still fairly low. 

Looking to do my first BRRR very soon...oh, and I'm also a Professional Engineer and posted in the commercial real estate forum about Phase 1 Environmental Site Assessments...so I could help out in that arena if anyone needs it....thanks!

Are there environmental risks in the area?

Fixer upper style will not work here right now and I live and work in the Cy-Fair area.

Or accordion style blinds that are easy to position in place. 

Not sure where to start for fix and flip styles homes.

New tenant received glowing references and has been employed at the same environmental non-profit for several years, has good credit, etc.  

In regards to modular, I actually have been developing a fourplex that I plan to build several of in Spokane Valley, in a modular build style with Champion Homes out of Weiser, Idaho. 

@Dustin Salmon A Phase I (ESA) will tell you if there are any recognized environmental concerns, current or historical, and if really serious, a Phase II will be recommended.