She immigrated from Serbia, so maybe that is a cultural difference, but my wife was pretty floored. 

Sixteen homes to inspect- roofs, hot water tanks, soft floors, siding damage, decks, porches, furnaces. 

When we create our business plan, we also include our exit plan.We'll only proceed if we can clean this up, acquire new tenants at higher rents so we can increase our NOI, which in turn should reflect our cap rate and profits.Since this asset class is new to us we will tread cautiously.Scheduled to preview tomorrow. 

That sounds like massive renos (ie new floors, painting...).Yes as you acquire more properties, the chances of having multiple vacancies (no matter how leases are staggered) increases.

It would be wise to rectify it before transfer of title so your starting off clean and hopefully won't have any issues when you go to sell down the road. 

Improvements that drive the ARV the most: Roof, New Kitchen & Bathrooms, Flooring, Paint2.

They just moved out and the house needs some cleaning up.

You would expect a clean title at close so if there is some issue, then either it would be resolved by the seller or the deal would fall through.

Insurance typically covers only the directly damaged area, not undamaged flooring, even if it's continuous.

The property has two residential units on the second floor and first floor is a retail space.