On my first property we were planning a cosmetic flip based on the inspection report with a mediocre inspector and unfortunately once we got into it I spent close to $60,000 rewiring and making many mechanical and physical upgrades.

My frustrations aren't specifically with the deal mechanics, even though I'm very disappointed in how they turned out.My frustrations come from the lack of GP "soft skills" / broken promises that were made around full transparency (good & bad), open and timely communications, prompt delivery of investor updates & k-1s, communication in laymen terms, actively updated & accurate portal, etc. 

It is predicted that the number of foreclosures will increase and I would like to capitalize on this as a mechanism to acquire properties.

The mechanics are too tedious to explain.

Lots to think about here on the mechanics of how this all is going to work.

When my mechanic says " I had to put new gaskets on your headers and tap out some old bolts" I say "Cool, Thanks.

These are grad students and not greasy boots auto mechanics.

An experienced agent will be able to look at the structure and mechanicals and give you a good idea of what to plan for. 

The maintenance differential between a single-family and a two-family is twice the mechanicals, but the same amount of roof, exterior, etc.

Good luck to all 100% agree my folks I fund in Cleveland put new roofs on all new mechanicals update plumbing new electrical if needed I mean a true rehab.. not just patch..