As an investor, you look at these critical factors and also weigh in things like no rent control in the area, business owners and tenants who cannot afford areas they work in like Santa Monica and Venice having to seek out other areas close in proximity to the ocean, and most signs point to what could be a great launch pad for a city that is well overdue for a new identity. 

Not to mention, concrete pads?

Even an old pad that is calcified will not allow proper moisture distribution into the airstream and waste water.

BUT, despite my desire to get started, I chose to put on the brakes and educate myself, to forego possible short-term paydays in favor of long-term risk mitigation.

Currently the property has 2 tenants paying 775 for each unit = 1550 one of the tenants will vacat once I take over the property , va allows 60 days once I take ownership to move in so the mortgage brake down is below For a 30 year fixed with 4.5% rate you’re looking at the following monthly: Principal and Interest: $430.68Insurance: $85Winter: $3.58Summer: $161.75Total: $681.01Benjamin Allen So at 775 - 681.01= 94 positive cash flow and the live for free , then I'll move in a year do the same thing Matt Castle the roof is 4 years according to the sellers discloser agreement and the other big ticket items will be part of the inspection right ?

That means, if you don't make any estimation mistakes on labor, you just pocketed the money that was used to pad your budget in case you made a mistake. 

This means tearing out the carpet, pad, vinyl, etc.

Early this year, I am once want a Tesla P90 - I like the "red" disc brake which kinda cool. 

Slam on the brakes and stop the deal if you still can.

Down the road after a few flip deals I will probably do more work myself to pad the equity and use those as deals as BRRRR's.