We knew we would make a good chunk of money off selling our first home, therefore we wanted to put that profit towards upgrading some things on our new house (metal roof, hardy siding, etc.)

I am purchasing at $150k cash and will need to do some cosmetic renovation as well as new roof and hvac system.

You can also buy properties that a bank wouldn't give a mortgage on, say I could with a really bad roof. 

It also needs all new windows (22 with most of them being about 19x63) a complete kitchen, full bath, another bathroom added, a roof, full a/c system and all new plumbing.

One caveat is how was the roof/property marketed?

You'll get a lot more responses there on specific contractors for a roof and HVAC.

So Id spend my time worrying about things that are much more likely to happen, like needing to replace a roof, than worrying about things that are unlikely to happen.And for those that survived the most recent housing collapse...the solution to surviving it was rather quite simple....dont sell during a downturn.

I've never had an emergency like this take more than a day or 2 to correct, even a replacement AC unit on the roof with a crane service needed can be arranged in a couple of days.

And if you need a new roof, a personal contribution to the LLC is also fine.

Deal overview;Purchase price = $350k. 4,000 sqft, 5/4 that had an in-law suite above the garage, complete with a tar-pit (I mean pool, but you couldn’t tell the difference), hurricane damaged roof with inside water damage, two kitchens that needed appliances/updating, 2,300 ft of flooring needed replaced, $45k in city fines that we had to navigate (settled on $1,500 in fines, title company assured me that would be the case, but I was still apprehensive, glad we listened) and lots of granite, paint & fixtures!