I'm starting to feel like a jumped the gun a bit on signing the purchase contract. I just found our recently that the house is in a high risk flood zone and just took a large chunk of my returns. FYI the owner/agent f...

"it was revealed the Town of Narragansett’s appeal to Rhode Island Superior Court on the rejection of an ordinance restricting dwellings to no more than four unrelated tenants had been voluntarily dismissed by the town.

This could reveal any on-going problems with the property and provide further insights on the property. -- Try to have a conversation with the tenants to get an idea of any on-going issues with the property and the neighborhood.

We tend to think that Wholesalers  have excelled in cooking the numbers, but honestly anyone Buyer/Seller/Realtor can be a shady in revealing the truth in their numbers. 

Keep in mind that even pyramid scams look great for a long time and don't reveal the crime until it's too late (e.g.

I got an inspection report back for my first property (2 unit, 1BR up/3BR down).Here are some specs about the deal:- At minimum rents, it would cash flow $443/mo- COCROI = 12% Inspection reveals a lot of minor problems that I could fix myself (leaking water from pipes/outside, blackwater sump not covered properly, loose toilet, et al.) but I'm wondering what BP thinks about the foundation cracks that were found in the front of the house (see images below).

My concerns are what do I do if an inspection uncovers structural issues that can make the investment unprofitable or what if title search reveals liens against the property or if other such issues come up.

It's likely they published/revealed a minimum bid of $80k or so, no takers, so they got it at the minimum legal opening bid of $10.  

Just because the roof isn’t actively leaking (honestly the condition is so bad I would be surprised that it isn’t but I can’t prove it as my inspection was done on a dry day and the attic is “finished”) I have already compromised on a lot of the issues that inspection revealed and refuse to compromise on this.

Just need to reveal yourself . . . . ;)