Mediocrity is the killer to having an exceptional and rewarding life. 

For older buildings this becomes something that is a deal killer as you will not be able to lease out your commercial space for what it takes to bring up to code.

HUD is very good at eliminating potential deal killers upfront.

My brothers and sisters here have given sage advice.Above all, be careful with hard money, and have multiple exit strategies to get the lender/investor paid back.And double above all, bring the killer once in a lifetime deal.If the deal is good enough the money will come!

THE KILLER was PA didn't recognize the Tax deferment so we had to pay the PA state tax..

I am going to personally try and focus on the off market opportunities and will definitely keep you in mind if I find any killer deals.  

Buying "as is" shouldn't be a deal killer.

personally I won't be doing any buy and hold in California beyond my personal property (which I am house hacking) or unless its a KILLER deal.

The killer here is the set of utilities that you have to pay.

I have the yards mowed every two weeks, and then I go personally about every 4-6 weeks to spray weed killer.