Though attacks are generally rare, we are all told to prepare before traipsing around the mountains.

If you haven't acquired previously, caution not to attack on multiple fronts right away...one at a time, learn from it and improve as you go...we are 1000% better equipped to acquire from the prior experiences...they do take time after acquisition for dust to settle and for you to see the effect as well as what strains it puts on your existing processes and infrastructure. 

Hi All,I've been searching the NYC/NJ area for approx. a year now, analyzing different markets and trying to figure out the best areas to attack for my first RE investment (don't want to screw it up).

Hi All,I've been searching the NYC/NJ area for approx. a year now, analyzing different markets and trying to figure out the best areas to attack for my first RE investment (don't want to screw it up).

Keep in mind we do not have known cost amounts for these repair items, and can just make estimates, and hope no other costly issues are uncovered after attacking some of the repairs.My question is, with our next interaction with the selling agent, should we:A) Ask for the major repairs be metB) Ask for a decrease in agreed upon price (without great idea of what the repairs will cost)C) A combination of both; settle with some repairs met, and a decrease in priceOur entire list is below: (keep in mind that I am not sure if all of these things need direct attention to get the unit rent-able, or if some items can be overlooked for now and deal with later as they become more of a problem)Repair List:Items that need attention before renting unit:Big Ticket Items:Install furnaceInstall all new appliancesInstall water heaterExterior electric power supply is damaged, needs repairInstall guttersNo termite treatmentNo gas meter, install newAttic decking has moisture damage, needs repairSmaller Repair Items:Install electric panel faceplate and secure exposed wiresTwo prong outlets (could not test), swap out, install GFCI where neededTrim tree limbs in contact with power linesMissing light cover under front entranceRepair kitchen windowsRepair kitchen sink leakRepair utility room leakInsulate atticSeal gaps in living room doorLoose bathroom faucetAdjust shower water pressurePatchwork performed in multiple rooms, walls are plaster on wood lathe- which I have been told can have asbestos issues once opened upDeferred Cost Items:Large tree removalTorn and missing roof shinglesSeal plumbing boots on roofRaised soffit under car portSecure electrical lines in attic, they run over attic stringers, not through them (necessary?)

Should we attack the HELOC like I rode into Baghdad or is the a better option?

Everyone here started as the new kid on the block, so you're amongst friends ;)Sounds like you have a solid plan of attack to build your network.

You might even be able to attack the expenses by doing things like metering the utilities, such as water.I believe the key to your situation may lie in knowing the rents/amenities in the immediate area (6 block radius for example) and work to position yourself well in that market.Any chance this is the 8-plex on Gumwood?

Thanks for the answers, Like I mentioned before, the first time, he approached me first, and told him who I was after he looked like he was gonna have a heart attack.

He was healthy but died unexpectedly of a heart attack and the company refused to pay off the car due to some technicality I cried the rest of that day and decided at that moment I was out of there, I couldn't live with being a part of that.