Property damage, excessive wear and tear, but paying, that PM has an incentive to look the other way, don't they. 

but keep in mind CA has higher taxes and reg fees and I’m not doing more than 1-2 flips (short timeframe flips)  a year and many years do 0 flipsDo most flippers put flips into LLC Or in personal name (sole proprietor)  in CA (where you must pay $800 yearly plus accounting and other fees $300to $600+ yearly to maintain LLC) Pros for personal name-save on taxes accounting.

That said, I pay for electrical and plumbing always, because these cause a danger to myself and the property, and also because they probably require a permit on anything they touch. 

But I would not consider what the seller needs to make in determining what I'm willing to pay for a property, especially when youre buying a problem like this.

My experience in Massachusetts, where it took nearly a year to evict a non-paying tenant, has made me more selective about the locations I invest in.I am looking forward to learning and sharing insights with this community! 

Quote from @Mario MoralesMorales: what if he got a HELOC, used the funds to get a property, then cashout-refi the new property and pay off the heloc?

Then, both needed about $5,000-$10,000 each in repairs and cleanup.Even with low rents in those areas, renters struggle to pay $995/month on one property and $1,095/month on another.

@Juan PerezCongratulations on paying off your first home and transitioning it into an investment property!

Plus the mortgage company probably calls the loan, and if you can't pay it off then you can lose the property.

Unless you have a Roth, you can easily pay much more in taxes by investing in real estate through an SDIRA.