Click here to know what is going on and what is going to be required.The list of inspections is pretty exhaustive and covers a lot of things within the building and sanitary codes.The city believes that it has a problem with many older buildings being in disrepair and not maintained by the owners.The owners/landlords have issues with the city because they believe the city is overstepping its authority and does not have the right to inspect the buildings.In the middle, we have the tenants who should have clean and safe apartments to live in.

Hi Michael,The property will have to meet all of the VA's minimum property requirements, if you want a complete list, they are outlined in Chapter 12 of the VA lender's handbook: http://www.benefits.va.gov/warms/pam26_7.aspAlso keep in mind the appraiser has discretion to call out repairs outside of the MPRs if they feel there is an issue that keeps the home from being safe, sanitary and sound. 

I say you can write your own offer on a napkin and I'll present it, but I'm under no obligation to write an offer for you and provide services to you for free.

I then laid the napkin on the table and opened it up for everyone to see.

So it becomes a quick - back of the napkin exercise as you look at properties wherever you find them. 

If you can't do a your first 3 or 4 flat deal on the back of a napkin, it is probably not the deal for you.- Will this strategy impact my long home buying abilities 2-3 years from now when I am looking for my long term residence, and if so how?

Obviously there's a lot I don't know about your deal, but using napkin math and your figures, Id go for it - I think $1600-1800/month is realistic depending on the area at that valuation (just guesstimating the neighborhood quality based on ARV).

If you think yours is going into the sanitary sewer connected to the toilet, that's a lot of water to put into that system quickly, you might want to do the same listening technique that I did.

It was something like a 1 page JV agreement that he could have written on a napkin, and definitely not reviewed by an attorney.Maybe it's improved since then.

I take this info, will browse the mls and quickly can do some back of napkin math to see if the potential property will pencil out using this approx rent and approx mortgage and service payments.