Although William Silva ghosted me for over one month, as soon as BofA contacted his bank, he blew up my phone with nasty phone calls and texts.

Other than the repairs needed of course

Basically/Hopefully that is watching rents hit your bank, and occasionally calling a repair service as needed. 

I will also need to do 15k+ in repairs. 

Unless there is an emergency situation, take a lot of photos and call your insurance agent before doing any repairs.

The asking price is under $125k and like mentioned earlier, the renovations would be 50% so there are major repairs (not move-in ready). 

@Harsaha LenkaI looked at the OM and it’s missing vacancy and collection loss and repairs and maintenance.  

But it also means you have virtually zero bargaining power as the seller can reuse any and all repairs and just keep your 6 months of rent as a bonus. 

Focus on distressed properties needing cosmetic upgrades where the after-repair value (ARV) justifies the rehab costs.Good luck!

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip.