I could have fully rehabbed that home and sold for $175K but instead I sold as a fixer upper (only needed cosmetics).

I'm about to put an offer on a MF in Rensselaer and will definitely be needing a handyworker & painter for some light cosmetic work.

Find out if it's a problem or if it's just cosmetic.  

(Foundation, etc)4) Black mold, asbestos, lead paint, other other costly repairs. 5) It need significant cosmetic repairs where the purchase price just isn't worth it. 6) They may have an odd layout of the rooms. 7) Non-compliant septic.8) Trouble with permits or tenants9) Listing agent has a poor or incorrect listing.

I buy/cash flow day 1 and let the tenants make the cosmetic repairs.  

Even completely self-serve laundromats require daily cleaning and light maintenance.As far as time costs, expect to spend time each week troubleshooting equipment issues, routine maintenance, cleaning, and handling customer issues.

Plus, other routine tasks like transferring loans and providing payoffs were way more difficult with them than it should have been.

Choose the Right Property:When choosing a house to flip, search for properties in desirable neighborhoods that need structural or cosmetic improvements.

I normally recommend a turnkey single family home (3b/1-2ba)/ light cosmetic work single family as a 1st investment.

But for me, the biggest shift was developing a routine and using tools that let me see my rental finances at a glance.Anyway, that’s my two cents.