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

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).

They may less sensitive to need upgrades/remodeling and avoid moving. 4) get a backup/lowball offer from opendoor, offerpad, etc etc.

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.

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.

These include accidents (I recently had 2 units destroyed by fire), natural disasters (I have had two units each hit by 2 hurricanes), property management turn over (they sell or stop being as good, I have experienced both), or turn over of team (I am turning over at handyman and I suspect plumber), or just wear n tear of property (slab leak in poor location, sewer pipes rotted out (one unit this month), roof, foundation issue, etc.).  

You're going to need 15-20 duplexes that are considered good deals to get to that kind of profit.

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