Realtors and contractors are promoting the slumlord experience, eg never investing in the property, and extracting every bit of blood out of the house you possibly can etc.This works well in the short term, but when it's time to dispose of the asset, people will look at your manky horrible windows and knock you for them.But then replacement won't be $6k by that time, they'll be $10k, and the buyer will knock you $15k on the price - because they can.Don't fall into the trap "it's just a rental".

I cant touch anything in my area that's multi-family for under $300k In my area (Seattle) to get $1k rent, you're in for $100k plus.Will Spruill You're about to step into a deadly trap.

My concern is we are still stripping off lead paint from the exterior of the home in sections and then repainting as we go, we will most likely be presenting an unfinished property to appraise.

Those loose wires on the range create a spark and someone is trapped inside or the first responders are delayed going through a futzy door and now your property is on the 6 o'clock news.

If you can not save any money in 2 years you will fall into the trap of what a lot of people here and on tv will tell you about no money.

I'm naturally a risk taker, so I don't feel I would be trapped in fear of failureTo name some areas where I need the help of others would be:1.

Just ways to minimize risk and improve the chances for ROI.For example, for every 10 people saying "no way" to Detroit, there are probably another four or five making money from select neighborhoods in Detroit.Don't fall into the trap of connecting with people that share your same viewpoint --like the listeners of Fox News and MSNBC News.Read, listen and familiarize yourself with all sides of an issue and then make your best educated guess.

The truth is, as an informed investor one needs to be able to make their own decisions based upon valid and sensible information.I especially love how there is an avertisement for a book called "the housing trap" at the bottom.

Or is this an impending inspection and fee trap as the underwriter suggested? 

I got caught in that trap when I first started.