The floors have been redone, it has a fireplace,  and the patio/front porch could use some work - but everything appears okay from walking around it.

You might do a ton of work for several weeks or several months on the front end to purchase a property or invest in a mortgage, purchase a billboard, or invest in an ATM fund, but once that front end due diligence is over, most of the time you’re doing very little except looking for ACH deposits in your bank account.Freedom – As I’m sitting in Starbucks sipping a morning coffee on the patio watching people scurry in to take their coffee on the run to the freeway and then to get to work I am very thankful for the life I chose.

There’s just about zero discount given for homes with bad layouts, old hvac/plumbing, or aged patios/driveways/roofs/or obsolete windows. 

Also wondering if IRA's facing UDFI have to pay the ObamaCare surchage of 3.8% in addition to ordinary income tax, cap gains tax, and recapture tax?

@Imran ShahzadWhile flipping profits are taxed as ordinary income at your marginal rate and subject to self employment tax, I wouldn't go crazy trying to reduce your se tax liability with a S corp. 

Screens for patio...it’s a NO GO.

I just talked with my mortgage broker about this as I am about to purchase my second property as well.He told me that the rental income from the first will count as ordinary income when they are looking at D/I and will not count against my income.If you are cash flowing A LOT then you might be able to afford more, however if it isn't substantial I wouldn't get my hopes up.Look forward to hearing how it goes!

The blue pill creates a contented experience of ordinary reality.

Not ordinary operating expenses."

Cement patios and porches to reduce mud/dirt brought into house.