@John Thedford I've heard that quite a bit, to no surprise.

We even got a bonus surprise when we pulled the carpet and discovered some awesome 60's, rock print, green vinyl underneath. 

This was a surprise because we were told they numerous times they had been.For every project we had received invoices for permits.Looking back me and my partners were very ignorant and stupid not to check for a license number.The project we are currently doing, the 3rd deal we immediately stopped and are now hiring a real licensed contractor.

Thank you Guys for the feedback and input...I'm pleasantly surprised and appreciative of the collaboration here on this BP forum. 

I have no idea why that would be, but they never fail to surprise me.

Average of about $600 rent per month.I sent a low ball offer not really sure if it would be accepted, but to my surprise it was. 

Our goal is to find the ones that need 1 day to 2 weeks worth of rehab to get rent ready.Also you will notice this isn't HGTV world where you overdo all the rehab and make no money (heh haha)This is strategic reno to get in get out , not take on huge cap x.We will pay a premium for a new roof and new boiler so that we can do rent ready reno and get cash flowing with a solid SFR that will cash flow for years without a capx surprise in 3 years.Also, we know when we have 1 day to 3 years left on a roof.  

I'm actually a little surprised that there is so little in traditional book form! 

I, along with a business partner, are beginning to take serious steps towards finding our first deal through all the same conduits only to be disappointed (we are not surprised by this).

Despite being a "numbers person" by trade, I've been surprised by all the expenses in rental ownership that I had never even considered.