Here's the details:ARV- $210- $220KRent: about $1,900/month3 beds/ 2 bathsNeeds: New roof, New HVAC, New fence, Minot touch ups inside like paint and cabinet touch ups.Rehab- About $40kI offered $140K and he countered with $190K.

It is important to find something that was properly maintained, with modern plumbing, electrical and roofing. 

Just make sure you keep enough in an emergency fund in case a roof or furnace goes out. 

The cost is the same for a roof on a house that rents for $800 per month is the same as on that rents for $1800. 

My heart rate goes through the roof as I have about $90k in equity in that house. 

Glad you are setting aside money, but if the HVAC is 20 years old, or the septic system has never been pumped, or the roof is 25 years old, etc; you will get hit with a cost before your build up enough set aside.How stable is the other tenant? 

Where I see my clients do really well for their clients is the HVAC is brand new electrical panel new  Roof brand new etc etc.. kind of like those that buy new construction for rentals those folks are paying full retail for those..

Estimated cost for remaining changes (all new electric, drywall, tile, fixtures, cabinets, roof, doors, windows, heat pump, some siding, and fencing.

, status of major building components (roof, HVAC, structural, electrical, plumbing), accounts receivable aging (are all tenants paying or is the $20,500 schedule rent?)

So on numerous occasions, I have expressed my concerns about staying within my budget.Now on top of this, the property manager let the pipes freeze and they leaked and the boiler also cracked which I was told to file an insurance claim.