My duplex - built 1989, 2,060 sf, 2 bed/bath, 1 year old roof, value if I subdivide (county already approved) and sell each separately $150k each ($300k total)Investor duplex - built 1995, 2,300 sf, 2 bed/bath, 5 year old roof, value around $310kThe investors initial request was for an equal trade and they would pay realtor fees, which I replied wouldn't be equal due to buying/selling costs (recording fees, title insurance, closing fee, survey, inspections, loan fees, 1031 fees, accountant fees, repairs), taxes would increase due to new sale price, I'd trade a 3.75% mortgage for a higher one, and I'm on the 10th year of a 30 year loan so resetting that to a new loan would restart amortization and pay more towards interest.

Getting Fair deals on labor and repairs comes from developing win/win relationships with contractors.

Next, plan on inspecting your properties every 90 days; you can communicate this to the tenant as you ensuring the property is in good order and to help you plan for repairs/future improvements. 

A lot of wholesalers lock it up at 75% - repairs and then try to move it at 80% - 85% - repairs.

I’ll also amortize large items like roof over 20 yrs, and then add $100/mo/unit for general repairs.

Use the brokerage account to fund the downpayment and repairs to bring it up to the comps in the area.

That's a mobile app for small handyman repairs lol!

How much will you spend in repairs on a 1920's house with renters ? 

Penalties of these Federal charges may include:30 years in prisonUp to $1 million in finesIt's a Federal crime.I'm not currently at foreclosure, but am recently out of state starting grad school, no income, and home needs repairs that I simply do not have the money to make.

In real estate its messy and there are always repairs and capX projects that seemingly pop up from time to time.