Quick question: We’re new to landlording and a pump in our tenant’s unit broke leaving them unable to use the kitchen sink for 5 days until the plumber can replace it.

If the roof is OK it is the repair although the kitchen etc can get a newer one upon vacating. 

Converted it from 4 small bedrooms to 3 bedrooms, with master bath, redid all floors, bathrooms and kitchen, all new electric and plumbing.

Added half bathroom, opened up the backyard, and the standard flooring, windows, doors, kitchen and bath renovations.

For a 2/1, I received these quotes with permits 14k electric,  8k furnace/duct, 2k central air, 2.5k floors sanding/ synteko, 10k bath,  12k kitchen, $30/$50 sheet of drywall,  3k paint,  roof was about 7k, demo 3k, concrete demo/new $12 s/f, windows $250/$400 depends on brand, then GC fees,  etc. 

Purchase price: $430,000 Cash invested: $120,000 Frame in the carport for a two car garage, adding a half bath, complete kitchen remodel, new laundry, and remodeled master ensuite.

Purchase price: $430,000 Cash invested: $120,000 Frame in the carport for a two car garage, adding a half bath, complete kitchen remodel, new laundry, and remodeled master ensuite.

It’s better to buy rent-ready (life and safety systems OK) but not cosmetically perfect (as in you might fix up the kitchen or bathrooms to add value).

As a result, I never get push back on the contract and people will sign literally at the kitchen table without reading in detail. 

Keep in mind we do not have known cost amounts for these repair items, and can just make estimates, and hope no other costly issues are uncovered after attacking some of the repairs.My question is, with our next interaction with the selling agent, should we:A) Ask for the major repairs be metB) Ask for a decrease in agreed upon price (without great idea of what the repairs will cost)C) A combination of both; settle with some repairs met, and a decrease in priceOur entire list is below: (keep in mind that I am not sure if all of these things need direct attention to get the unit rent-able, or if some items can be overlooked for now and deal with later as they become more of a problem)Repair List:Items that need attention before renting unit:Big Ticket Items:Install furnaceInstall all new appliancesInstall water heaterExterior electric power supply is damaged, needs repairInstall guttersNo termite treatmentNo gas meter, install newAttic decking has moisture damage, needs repairSmaller Repair Items:Install electric panel faceplate and secure exposed wiresTwo prong outlets (could not test), swap out, install GFCI where neededTrim tree limbs in contact with power linesMissing light cover under front entranceRepair kitchen windowsRepair kitchen sink leakRepair utility room leakInsulate atticSeal gaps in living room doorLoose bathroom faucetAdjust shower water pressurePatchwork performed in multiple rooms, walls are plaster on wood lathe- which I have been told can have asbestos issues once opened upDeferred Cost Items:Large tree removalTorn and missing roof shinglesSeal plumbing boots on roofRaised soffit under car portSecure electrical lines in attic, they run over attic stringers, not through them (necessary?)