As I prepare to use an FHA loan for my first multifamily investment, I've become concerned about the extensive repairs that can accompany purchasing an older model.

It was intended as a fix and flip, and our original exit strategy was reached. we bought with hard money then did a refi to convential because repairs became drawn out and rented for some cf to by is time. we ended up selling for 405,000 and our loan balance was 235,000.

We have Lowes and other accounts to purchase materials for repairs or renovations.

Consider a VA Renovation Loan to finance the repairs into your loan.9.

Hard money lenders are more interested in the after-repair value (ARV) of the property than your personal finances.- Have some skin in the game.

A mold specialist will cost you and arm and a leg and likely recommend unnecessary repairs.

My $10k example was admittedly unrealistic.However, by way of further background, @Dustin Heiner wrote an excellent article on this topic on his website masterpassiveincome.com titled "What to Do When A Buyer Backs Out From An Assignment Of Contract".In it he suggests a scenario where the assignee decides not to proceed, perhaps after discovering a big ticket repair item that would cost significantly more than the portion of the assignment fee held in escrow. 

They suggested while the property is vacant it is easier to repair, which costs 10-15k. 

There are some sub 75k deals out there that would make great buy, repair, rent and hold properties but I'd prefer to be able to preserve my own capital as much as possible to knock out quite a few deals this year and in the next several years. 

Profit can potentially reach up to $200K depending on amount of repairs needed.