Hi Leo, as far as the ground wire is concerned, just pull one of the non grounded receptacle plates off and loosen the receptacal enough to see behind it (Cut the breaker first unless you like to challenge the gods like me) and see if the wire going to the back of it has a bright copper bare wire.

Some people are purposefully very cautious and would have a hard time rebuilding if things go really really wrong by trying to scrape by on the bare minimum.  

@Skylar Dejesus i am going for FHA so i am only putting bare minimum of 3.5% coz on the next property i would need 20% down. property is in fairly good condition, it is only multi family home in the street of single family homes and only minor cosmetic touch ups are needed.

Wow I am a newbie and barely starting out and its kind of overwhelming hearing about purchase 25-50 units.

I'm having trouble finding anything that will do more than barely break even after accounting for loan payments, maintenance, taxes, etc.What do you mean which market?

If they barely pass our credit criteria we require 1 month's deposit plus they have to sign up for direct deposit from there pay checks.

Find something that will just barely qualify for financing (conventional or rehab loan), the last home I bought I had to put in some work before the appraisal just to get the appraisal in at a suitable price.Hope some of this info helps,Christopher

Repairs are being budgeted at $150 a monthAfter adjusting the numbers to remove water and a property manager and assuming a rent of $950 I am getting a cash on cash ROI of 10% and a cap rate of 8.7% and it just barely qualifies for the 1% rule.

I dont have any debt and I have a good financial education (thanks to my husband).I would like to start investing in Real Estate, especially in the US as in France, REI is barely up to 2%.So I'm looking to invest in turn keys properties as it suits my profile. 

I would either try to get an acceptable cash-on-cash return on your downpayment from cash flow, or try to find a property where you barely cash flow but stand a very good chance of appreciation.