Interest rates ha probably peaked so if they got away with it thsi long they are probably safe. 

Our plumber re-plumbs entire houses for much less than that, and if it's a simple leak you can find, you could be done for a few bucks.The 80's were the era of pinhole copper, so there's always a chance that your supply lines are shot when buying a house from that time period, but it could be something minor too.

Is there a website that I can get an estimate on the re-hab price of xyz location?

Here are some tips to maximize the use of leverage without paying for unnecessary interest:- If the cash out is being utilized for RE acquisition have a strong pre approval and try to align the refinance with the purchase.

Side note: possibly labeling is what caused the disconnect in your situation, to begin with.Specifically in your case, your re-negotiating of the option credit does not trigger an immediate taxation.

I would like to know what everyone is looking to do in RE, me personal rentals and flips.

I'm strongly considering Austin as the first place to look and start investing in TX RE.. 

We have to manually log the issue/damage, then enter each bill once we've done the work, then we have to track whether the tenants reimbursed us or not, then we have to pull together the water bills from another expense tracking sheet, and then re-organize everything per property or per tenant to be able to generate a summary report (which we are required to provide to tenants).

They are easy to get started with an the support has been OK compared to others  I am going to jump in here for few questions.Does it make sense to buy RE in retirement account(401K) as the tax benefit and write off are not similarly applicable as outside of 401K?

Make sure you review the surrounding area and watch out for the RE "doom loop" https://www.wsj.com/real-estate/commercial/doom-loop-st-loui...