Ideally LADWP will prioritize the infrastructure repairs and new service requests to these properties as getting power service in LA can be 6-24 months without project prioritization.

Adding the rehab money is standard if the property needs repairs.

Quote from @Neeta Agrawal: For context, we gave the tenant a 60-day notice for non upkeep and no repair communication in 2023 and then extended it for 30 days upon his realtor's request, setting the move-out for May 31, 2023.

What do you think about investing in Detroit, such as buying a house, repairing it and renting it out?

If we rent to own, they are OK, but we cant refinance because we don't have the deed.Are there any unique scenarios to help us get the property for little money out of pocket, we have the ability to have the deedSign a lease agreement with a purchase option that allows you to buy the property at an agreed price at the end of the lease term, consider establishing a partnership with the seller to jointly invest in property repairs and improvements.

Set aside reserves for unexpected repairs or vacancies.

I perhaps naively went ahead with the registration and inspection after completing purchase of the home, and wound up with a hefty repairs bill of around 3k.

Additionally, have a clear budget, factoring in potential repair costs, and ensure you understand the rules about earnest money deposits and closing deadlines.LLC for Real Estate Investing: Forming an LLC for rental properties can offer liability protection and may provide tax advantages, though the tax benefits are non-existence for rentals.

(Foundation, etc)4) Black mold, asbestos, lead paint, other other costly repairs. 5) It need significant cosmetic repairs where the purchase price just isn't worth it. 6) They may have an odd layout of the rooms. 7) Non-compliant septic.8) Trouble with permits or tenants9) Listing agent has a poor or incorrect listing.

This gives you a foundation for making a fair offer.Secure Financing: Be prepared to show you’re a serious buyer with funding lined up, whether through cash, traditional financing, or a creative option like seller financing.Have a Strategy for Repairs or Development: If the property is distressed, outline how you’ll handle improvements to bring it back to productive use.