And I will state different jurisdictions have different rules, processes, expectations, etc.In my area you are required to have a permit to swap a water heater.

Most if not all of these properties require SIGNIFICANT cap ex rehabs and conventional financing won't touch them; you'd likely need to go the hard money route at 10-12%, 2 points, 12-18mon turn around.

I suspect it's an old line that failed and required replacement.

For example the license should not only have a cost but also require at least some compliance training targeting some of the most common issues/complaints.

It doesn't add layers of physical damage coverage or cover things that wouldn't otherwise be covered.

You'll want to read Maryland new requirements for landlords.https://dhcd.maryland.gov/TurningTheKey/Documents/HB693-Land...

If you ask the manager to justify a fee and he starts hemming and hawing, move on or require them to remove the fee.

Start by getting pre-approved for a loan, ensuring your credit score, debt-to-income ratio, and finances meet lender requirements.

Thirty years ago I started purchasing and living in properties in upcoming inner city neighborhoods that required renovation.

So we shall elucidate five myths and truths about investing in them.Myth 1: Distressed Properties Are Always Money PitsMost people think that distressed properties require major renovations, which wipe out profit returns.