Leverage is one of the most powerful tools in real estate investing.

Well anyone can write anything into a contract, but whether it is legal and enforceable is for the courts to decide...It is State law here that a contractor must call 811 or they are liable for the costs.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

If you are worried about out of pocket costs, see if maybe a rehab loan is an option to get everything needed done now and refinance in 3 months when everything is complete.

Seller Pre-Sale Financing: Consider selling the tenant-occupied property "as-is" now to an investor, perhaps at a slight discount, which could save time and eliminate renovation costs.

The success of such investments depends heavily on local market conditions, and maintenance and upkeep costs can add up, especially as the property ages.

Prices are around $300K for what he's looking for (total costs around $2000/mo, and income will be around $4439/mo... but if he has 2 roommates each paying $700/month, it's totally doable. 

This also costs 200-300 EUR depending on what's included.

You still have the cost of lease renewals, but that's minimal when compared to the cost of turnover.  

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.