For example, on a recent project, Draw #1 covered the roof, demo, and trash-out.

Purchase price: $300,000 Cash invested: $31,0002/1 X 2 duplex with new roof, newer AC's and new water Heaters in really good shape.

Actually, a friend once mentioned a unit in Eugene that had to be re-leased after a nasty storm tore off part of the roof.. it’s gritty, hands-on stuff like that which rounds out your perspective.At the end of the day, you don’t need a flawless blueprint to get started.

This is specific to this, I have the detailed 411 on this, including full background on seller, why selling, how things have gone, maintenance history and recent updates/upgrades such as the newer roof, HVAC etc etc etc... 

Also the value (in this case) is determined by the NOI, so assuming it will be worth 2x, is assuming your NOI is thru the roof (which is can be, but it's not likely in the first 5 years).

Water penetration can also include roof failures or pipe bursts that allow water to leak into or damage your home.Either have the repaired area researched by your local expert and accept it.

Rent by room is an option that many people do here but even then it's not easy, and several randoms living under the same roof calls for its own problems and likely a lot more turnovers, so I'll see.

One or two appliances or a new roof can wipe out years of cash flow. 

wow never seen flat roof designs in that part of the country. 

i don't recommend buying a random property in a random midwest state for $118K that looks great but actually needs a new furnace, a new roof and a new sewer line, and will crush you with capex and make you sad.hope that helps.