You would not be responsible for the repair from damage. 

Given the block this was on which was primarily mix of decent homes and obvious rentals, and this home needed a few thousand in repairs prior to rent, I did not want to pay more than my max 76k offer.

We lived in it for a year, remodeled both units and put in place a long-term tenant on one unit and a mid-term tenant on the other.Here's a little more details about this deal:*   Purchase price: $163k*   Financed price: $132k @ 7.625% APR*   After repair (estimated value): $225k*   Gross rents: $2150 ($750 one year lease & $1400 six month lease)*  Annual taxes and insurance: $7000*  Approx credit score: 650 (I used interest free credit card to pay for remodeling this property and maxing it out caused my score drop almost 50 pts!) 

We hired Bildwise for a renovation of our 1965 single-family home that included complete electrical rewiring and updating, roof replacement, light kitchen and bathroom remodeling, new flooring, new interior paint, and masonry repair.

The home is as is, so it needs some repair.  

The building is mostly older seniors and to my knowledge it is in average condition and there are no known major repairs.

Be sure to add in start-up costs such as repairs and furniture. 

I've warned a few people if you don't have large cash reserves are and are buying Class C in Midwest (I'm talking especially to my California friends), get ready to pay out for all the repairs and cap ex on your "cash flow on paper" properties (like I'm doing). #5 There seem to be shills for these gurus/mentors posting on the forums. 

If we go by the BRRRR method, we're already going to buy and rehab it, then would it not make sense to just flip it at that point and cut out the need to deal with tenants, home damage/repairs, refinancing, etc.?

.- It's usually not that difficult to make the required repairs - unless the wholesaler & their PMC have misrepresented the condition of the property!