Figuring out how folks are saving and buying second properties within 2 years based solely on the, in my book, slim margins most folks are okay with (from what I can see) is a mystery. 

 $20K seems to slim from an equity standpoint, especially if you're betting on appreciation.  

Hi, @Anna Smith.It's definitely "safer" to pay all cash for a property.However, the income returns on rental houses are usually pretty slim if you pay all cash (and there's no appreciation and eventual sale).A little leverage could get you more houses and a larger nest egg (either cash flow or paid off houses) in the future.Here's the good news.  

If they do not then the bank will not let the deal go through unless they allow a short sale which for wholesaling is also a very slim proposition.

Chances of those additions being well-done (and not negatively impacting the roofing, plumbing, or electrical systems) is slim to none.  

For 100k its pretty slim pickings in the better areas.

Investors are paying top dollar and getting slim margins on their profit. 

I don't know about tenant/landlord laws in Connecticut, but you may want to take that into account too.The odds of your tenant fighting a small charge for the carpet--slim, but every dealing you have with a tenant builds a public image of you (not to mention speaks to your character).If the carpet is only a year old, then I, personally, would charge them replacement cost... any older than that, and it would be a depreciated replacement cost.The fact that you were going to replace the carpet (though it may speak to the carpets age) wouldn't directly have any influence in my decision to dock the security deposit.

They are just not worth the work and cost for the slim profit.  

I do not hand out any mailers for distressed property because theres a slim chance you will get a response, I would get in touch with wholesalers because they sometimes have great deals and have them add you to their list for only palm beach deals.