I wonder what would be involved with putting a walkway on that roof.

These are much more involved. 

This would typically involve taking a cash-out refinance or a home equity line of credit (HELOC) on your current rental to access the funds needed for the down payment on the new property.Regarding the lender fees, having two mortgages, one for the cash-out refinance and another for the new property, could result in additional fees, but it’s not necessarily double the cost.

By doing cash for keys, you increase the odds of all LL getting a tenant that has been rewarded for poor behavior.  

Because she is competing with hundreds of others who are hooked to MLS and pay highest amount to get that property (they are not in hot market and in horrible condition, lots of unnecessary  risks involved).

Find 3rd party ways to verify the owner and employment as described. it would be very odd to have both an employer and landlord in two different states thousands of miles away that share an area code with the perspective tenant that is not in the market the home market of the PM or the employer.

Part of that process involved maximizing the asset to its highest possible performance (thus all the capital expenses and investment).

The focus on achieving a higher sale price can sometimes blind sellers to the risks involved, which savvy buyers may exploit to negotiate highly favorable terms.From a seller's standpoint, offering financing can be a smart strategy if approached carefully.

It is very difficult to execute as there are so many moving parts and people involved. if you do a few buy and holds first, test out contractors and slowly build your team you can prepare yourself to take on deals like this. 

Create a Lease-purchase AgreementThis option, also referred to as rent-to-own or a lease option, involves a seller leasing a property to a buyer who has the option to buy it for a set price.