Hence the reason why I thought hard money would be required during the seasoning period.Also I think we are heading into a correction for some areas of the country which means you could loose some of the value and eroding the 25-30% discount it took so much effort to find.For now I think the smart money is to buy with rehab in mind and only take deals that can also buffer for possible interest rate increases and some market softening.

The Gastonia area is in a rapid development phase, and is bound to see some great appreciation in the coming years (not to mention, the numbers work there more often than not).

Sometimes I have to override them on choosing a plumber, when its just a handyman job, ie, when the handle set screw comes loose on the shower hot cold water handle, that does not require a plumber, but the PM was all set to send in my plumber, and I told her that a handyman can do that.... of course she agreed, and got me a handy man within 24 hrs.

Run some numbers for her to better understand how much you loose when you decide to raise the rent and can not because of the cap put in place by rent control.  

Looks good but the problem I'm running into is that the deal calculation says I loose money in the 1st year even though it says I make money every month 

It seems like the system is set in a way where landlords can't really improve the condition of their house without knowingly loosing equity or cash flow. 

Lots of older buildings have loose bricks plus cracks in the wall.

Called to complain his bedroom doorknob is loose, about to fall off.

This could be costly by getting them out and loosing a months rent.

The cheap plastic push-on pipe has a bad tendency to get knocked loose by tenants.