- Missed out on lots of deals because I wasn’t keeping my eyes openWater Intrusion We purchased an old building, and I knew it was not water tight.

We've been using watertight roofing for awhile now, and have had great results. 

Roof first if it is near the end of its useful life.Siding I would also look at for weatherproofing (wind driven rain could also rot your building).Once it is water tight, I would start on any code issues (see inspector mention), then maybe on to kitchen. 

.* You'll need to come up with a water tight lease, and if the house was built before 1978 you'll need a lead disclosure form and booklet.  

Is the house generally water tight or has mold started to grow in all kinds of places?

I would own the panels free and clear and be able to transfer to the end buyer after my rehab.2- Vivint will come out and remove the panels, make sure the roof is watertight etc and the system would be taken down.My question now is, we went under contract through Auction.com on a pretty standard agreement of sale.

So some homeowners have to upgrade the foundation and make sure that the units are watertight.

Missing flashing can be tricky to replace and make water tight if you are not experienced.

The water should be water tight, the p trap stops the odor of sewer gasses, and it all goes down the drain to the same place.  

Kind of like the watertight compartments on the Titanic, or another ship (bad example I know)  The person giving you that advice just wants their holdings as compartmentalized as possible and maybe isn't considering the cost of maintaining all the LLCs.