Unless there is an emergency situation, take a lot of photos and call your insurance agent before doing any repairs.

@Harsaha LenkaI looked at the OM and it’s missing vacancy and collection loss and repairs and maintenance.  

Basically/Hopefully that is watching rents hit your bank, and occasionally calling a repair service as needed. 

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip. 

But it also means you have virtually zero bargaining power as the seller can reuse any and all repairs and just keep your 6 months of rent as a bonus. 

VA Cash Out refi's must demonstrate a Net Tangible Benefit to the veteran, strictly defined by VA, to do one of the following: eliminate PMI, reduce the rate, reduce the term, reduce the payment, increase residual income, renovate or repair your primary residence, convert from ARM to fixed rate, or stay below 90% LTV. 

I've found an off-market property that would require $175k purchase, $35k down, $20k in repairs, with a conservative ARV of $235k. 

I will also need to do 15k+ in repairs. 

In total, including money lost from rent, legal fees, and repairs, the situation cost almost $30k.

As a PM, I'm authorized to make emergency repairs without owner permission.