The buyer will most likely require you to fix the damage, plus it will hurt your reputation that you didn't just fix it in the first place.

Here's was my Pre-Purchase Checklist when I first started:Upon Contract AcceptanceEnsure Access to Property: * Make Copy of Property Key(s) * Purchase New Lockbox * Place Key(s) in Lockbox and Install at Property (hidden)If Certified Funds are Required for EM: * Get Certified Funds for EM from Bank * Submit Certified Funds to AgentIf Financing the Purchase: * Send Contract to Loan Officer * Provide Loan Officer Property Info * Connect Loan Officer with RE Agent Info * Have Loan Officer Schedule Appraisal * Make sure Loan Officer Knows Anticipated Closing DateDue DiligenceInspections: * Turn On Utilities for Inspection (water, gas, electric) * Schedule Termite Inspection * Schedule Property Inspection * Attend Inspection and Take Notes for “Scope of Work” * Get Final Inspection Report and Review for “Scope of Work” * Get Termite Letter/Pest Inspection ReportContractor Prep: * Create Scope of Work * Create Materials List * Determine Which Contractors Are Needed: * GC * HVAC * Roofer * Electrician * Plumber * Pest/Termite Control * Painter * Landscaper * Carpenter * Schedule GC Walk-Through(s) * Get Contractor QuotesPurchase Decision: * Perform Final Financial Analysis Using Estimates/Quotes * Perform Both Flip and Rental Analysis * Make Go/No-Go Decision on PurchaseUpon Contingency FinalizationFinal Purchase Prep: * Get Closing Date from Lender/Agent * Arrange Landlord Insurance Policy * If Financing, Connect Insurance Agent with Loan Officer * Follow-Up on Appraisal with Lender * Choose a General Contractor * Choose Sub-Contractors (if no GC) * Determine Exit Strategy * Create Rehab Schedule (if no GC) * Create Final BudgetPrior to ClosingFinal Loan and Closing Prep: * Obtain and Review HUD-1 * Obtain and Review GFE (if financing) * Ensure Loan is Ready for Closing (if financing) * Get Certified Funds for Closing * Determine How to Hold Title * Get Partnership Agreement Documents Signed (if partnering)Upon ClosingDay of Closing: * Get Keys * Change Property Tax Records to Home Address * Get GC and Sub Contracts/Docs Signed * Arrange GC and Sub Start Dates

I have one rental with a pool, I don't like the pool company I had used, and the pump was out, so I bought a pump online and called a plumber I use for small jobs,,,he doesn't speak english and I don't speak spanish.I showed him what we needed to do to plumb the pump,,he started and I left,,when I got back later I noticed he had run the pipe differently than it was before, but everything worked fine.A day or two later I was over trying to get the pool in better shape (since the pump was out a few days it had greened up),,when I went to clean the basket on the intake side of the pump, I realized the way he ran the plumbing, there was no way to get it out,,,he ran a line over the top,,you can open it, but no room to pull the basket out,,,so I just cleaned out the basket by hand and told the tenants that was how it was done,,,they didn't know the difference

I have plenty of contractor/plumber/electrician contacts as wellregards,chris

Keep a good reputation.

I'm working with a new contractor who has good reputation on service magic and seems like a very nice guy.

Build your network, make those connections, and build a reputation as someone who can make deals happen and you'll find that people bring deals your way.

Start with 1 thing and get good at it IMO.Flipping/Rehabbing will take either cash or a reputation & results.

Of course not, but most of these big "reputable" companies do it .

Here are actual properties for sale on the sites of two of nation's largest turnkey companies, who enjoy preeminent reputations in the industry.Company 1:Sale Price: $109,900 Down Payment: $21,980 Closing Cost: $5,500 Total Investment: $27,480 Monthly Rent: $1,125 Monthly PITI: $725.68 Monthly Management: $90.00 Monthly Cash Flow: $309.32 ROI: 14% Price Per Sq Ft: $73.00 Company 2:Purchase Price= $89,150Monthly Rent= $825Taxes/Insurance -$135Management Fee -$35Monthly Expenses -$170Monthly Income x12= $7,860Yearly ROI= 8.82%OK, if you've on BP longer than 30 seconds, you'd quickly see that there is no vacancy, maint/repairs, or capital reserves.