I wanted to go ahead and open up my duplex for a meet up this Saturday.Saturday, November 7, 20203p-5p1204 Vinyard Ct.Apt ACollege Station, TX 77840This is a house hack duplex that was an absolute wreck of a property.

Bad management is a constant problem for me because no matter how great a job I do finding a property, no matter how good the rent-ready rehab is, bad management will wreck the profitability in a minute. 

In 2013, I was in a car wreck going 65 mph and was lucky enough to walk away. 

It's not completely wrecked, but it could use some work.

And it is really wrecking havoc for me obviously in trying to put this deal together as I dont have a base from the seller to start from, and I told him that.

I'm getting more photos tomorrow so we'll see if there's any more progress.Depending on how much you really want to protect your investment.. simply getting pictures on a drive by is not going to cut it.I would suggest you find a construction inspection company like the HML ers use we use and banks use.. normally about 50 to 100 an inspection.. so what you want is at demo phase they go through and check it out quickly and make sure you did not buy a complete wreck with a lot of structural defects that can easily be hidden.then from there once they do electrical and plumbing before they cover those us get it inspected..then have them come back after sheet rock and kitchen bathrooms etc.then once its done hire a normal home inspector to go through the whole house to make sure its up to code and everything is working.. the first inspectors just say yes there is plumbing and electrical the last inspector make sure its all to code your GFI's are in your hot water works etc etc.the other thing you want to do for SURE is get a sewer scope all those old houses unless its evident there is a new waste line the second someone moves in your probably going to find your sewer wont work right and it will be an emergency replacement and cost you 2X to 3X what it would cost if you fix it now..

Be careful what you wish for... if you find a property meeting the 2% rule it must be deeply flawed (extremely bad neighborhood or a wrecked foundation or something like that).

(This doesn't mean they have to be a total wreck, but maybe someone started remodeling and there are some open walls or they don't have a working bathroom, or the roof needs to be replaced immediately.) 

However, the most likely legal liability comes from car wrecks in our personal capacity.

I have seen this train wreck many times in the mid west over my 20 years of lending in the space and owning 350 C and B and a sprinkle of D that I did nto really want.