It had some deferred maintenance and I put a new roof on and fixed a few things.

Actually, a friend once mentioned a unit in Eugene that had to be re-leased after a nasty storm tore off part of the roof.. it’s gritty, hands-on stuff like that which rounds out your perspective.At the end of the day, you don’t need a flawless blueprint to get started.

Also the value (in this case) is determined by the NOI, so assuming it will be worth 2x, is assuming your NOI is thru the roof (which is can be, but it's not likely in the first 5 years).

During your initial walkthrough, inspect the property for any major issues such as structural damage, roofing problems, plumbing, and electrical concerns, while documenting all cosmetic and functional issues with detailed photos and notes.Once you confirm the property’s potential, finalize your ARV and calculate the repair costs using either a reliable estimator or insights from contractors.

Let’s say just a roof repair and a little bit of dry wall and paint and replacing some door jams and baseboards.

Luckily I had war fund saved up for the HVACs, roofs and foundation repairs I needed.

For example, on a recent project, Draw #1 covered the roof, demo, and trash-out.

As for the origination of the leak, it is your responsibility to provide proof that the leak originated in my unit.

One or two appliances or a new roof can wipe out years of cash flow. 

Quote from @Brian Cerezo: I’m in search of a roofer that can patch up my roof in my rental in Canton Ohio so I can get it ready to sell.