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.

A broker shall not be responsible for supervising, nor shall the licensee be responsible for operating, within the scope of the brokerage or within the requirements of this chapter, activities that would be considered property management, including leasing, maintenance, and repair, so long as the real estate being managed is "individually owned" or "entity-owned" as defined below:(1) "individually owned" real estate is real property in which the licensee holds an ownership interest; and(2) "entity-owned" real estate is real property owned by a corporation, limited liability company, partnership, or trust, within which entity the licensee holds an ownership interest as an owner, trustee, partner, or officer, or in another beneficiary capacity.

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.

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

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

PMC staff are good at maintenance and maybe repairs, but they are NOT licensed contractors with years of real-world experience.

Cash Partnership 50/50 on both the purchase and repairs.

I'm in Detroit now for inspections on one and to generate the scope of repairs on the other.