Many “wholesalers” get all excited when getting a property under contract only to discover that a thorough inspection by a knowledgable professional results in repair costs 2 - 3 times higher than they calculated. 

I discovered this property through an acquaintance when it was nearing the end of pre-foreclosure.

Another might be a residential tenant whose child comes home from college and discovers black mold in her bedroom closet.Ideally, Tenant Estoppel Letters will be sent to them after the inspection and financing contingencies have been cleared and within the last week before closing.

However, after receiving the survey results, I discovered that the house is located less than 1 foot over the sublot line (see attached image).Here are the options I’m considering:Rent the current house for market value (~$1,500–1,600/month) and convert the detached garage into an ADU to rent for ~$1,000/month.Relocate the house to split the lot, then sell the newly created lot (~$100,000) while renting out the existing house.Relocate the house to split the lot and build a new home on the second lot.Demolish the current house and garage, split the lot, and build two new homes.At this time, I am uncertain about the cost of relocating the house.Questions for the community:Has anyone faced a similar situation?

You will also discover the warranties don't cover as much as you think, and claims are often denied.Home warranties are so bad that most professional property managers will not manage a property with one in place.

Unlike some buyers, I ALWAYS go look at the properties before the sale and discovered that the vacant lot had an active railroad track on it and therefore was unbuildable, and would remain unbuildable until the railroad removed their track. 

I hired my own expert and discovered these issues did not exist but that the expert the 3 buyers had brought in wanted to be hired to do the work so they blew them out of proportion.

Around this time I discovered Bigger Pockets and a bunch of real estate platforms online.

Spending the owner's money, not saying anything, and letting them discover it while reviewing the monthly statement is unprofessional.

Imagine investing in all new, beautiful finishes, only to discover that the drain pipes are faulty and need to be replaced—an issue that could have been identified and addressed beforehand.