The property also has a pest problem (termites, foundation ants and mice).

However, there might be problem with the roof and major termite issue underneath the bathroom, since the wall in the shower was opened and the tenant just put something like a sheetrock there, it wasn't fixed properly, so water can go down and cause major damage to the subfloor or the foundation, which would greatly increase the rehab cost.The tenants have been living there for over 23 years, they don't want to move, (a couple in the 50s with the dad in his 80s) so they don't let me in to do the inspection.

Hi Jennifer,Apartments are an option.If you are worried about managers and (tenants, toilets, termites) then you can look at something like a triple net leasing property.Corporate rated tenant and the tenant pays taxes, insurance, lease payment, etc. .

No way.Most of the termite companies here accept payment at close of escrow, from anything as small as inspection and letter, to full on fumigation and repairs.

Jimmy, there is no capital gains on a fix and flip, short or long term, it's ordinary income.I also am not aware of any proration on the primary residence exclusion.

The owner is asking 15k for a home that has severe termite damage and needs a lot of work.

I get a call from a tenant, thinks there is termite damage because her brother fell through the back step.

Long term, it's an excellent strategy.

Doubling your money every 1-2 years isn't sustainable over the long term. It

but there is a lot of deferred maintenance, a giant termite colony so you have to treat yearly and the proximity to violence is significant.