However, each BP member needs to follow their own personal conviction regarding their risk tolerance, and put the mechanisms in place to alleviate that risk. 

Fairly cosmetic rehab incl roof replacement and mechanicals, $40K budget, done in about a month and a half, and now am moving towards placing into property management and flipping out of my rehab loan. 

.$17k doesn't sound like much work at all...can you describe in more detail what the repairs are for the mechanical, electrical, and plumbing (MEP)?

These inspectors do not check for quality of work and they do not check if mechanical work is up to code. 

On top of mechanical systems, roofs, exterior repaints, etc.  

That would be various liens, easement, water lien, demolition lien, mechanics lien, tax lien, water/sewer lien - something that title companies look for, when they do a title search. 

I am willing to learn as much as possible so please suggest materials and conferencesThank you Just a word of advice, if you ask for advice to be honest most people are gonna try to sell you on their market and ultimately their service or course, you need to figure generally the direction you want to go, your risk tolerance, the area, the trade offs between appreciation and cash flow, understand, it’s going to be hard to get much if any cash flow in this market, brrring & flipping are close to dead with the exception of a few areas in dc and a few rural markets, even there it’s difficult, come up With a basic plan than go into a conversation with whoever you work with and at least understand the right questions to ask, the best comparison I can make is my mom always makes me go to the mechanic with her, even though I can’t actually fix the car, I can at least talk the same language as the mechanic.

After 2 weeks Doors and door knobsCabinet hardware Towel rods, shower rods and toilet paper holdersRegisters and outlet coversAfter 1 monthToilet ClogsDrains and P Trap ClogsObviously we fix things that are structural, mechanical or appliances.

If the numbers are checking out, the foundation still seems sound, electrical, and plumbing has hopefully been updated, roof, gutter mechanicals all looking pretty solid, you are doing fairly well.I also take the stance that, if a property has been there over a 100 years and is still standing, you know you have a solid house.  

I have spent the last 25 years as a Mechanical Engineer and have recovered financially.