The big ticket items were obvious so no real surprises. 99% of the time when you go over budget it's usually because you change plans mid flip or something is uncovered during demo (rot, plumbing issues, structural and so on) .

if those numbers are accurate/actual (noi = 60450 and price = 465000) then that could shape up to be a good deal.a lot still needs to be uncovered through due diligence and examined such as:-title report-inspections/inspection reports-previous yrs income/expense statements, rent rolls, utility bills, any service contracts attached to the property, previous years tax bills, etc.

Welcome.If you're in IT, then you know it would take a 12 year old kid about 2 minutes to "uncover" your ownership.PO Box, Yes.

Section 8.My question is: Now that I've had the inspection and uncovered ~$15k of repairs that will be needed over the next year or two what would you say is a fair purchase price for the size house, area and fact that there is a tenant already living there? 

It's your job to uncover that before you rent to them.  

Then when one bank sells it's mortgage from one to the other, it's all done thru MERS, by assigning the mortgages to the next bank..Now, there's some legal controversy involving MERS, uncovered during the mortgage crises, court cases which I won't get into, which is a subject onto itself. 

If we simply uncover an opportunity thru a resident survey that they are willing to pay say $30/mo more per month to have covered parking and 100 spaces are created and rented in your 150 unit community, you've just created $36K / yr in additional income.  

Become the best informed and prepared person in the community.While you are doing this research, you will uncover many opportunities that others do not see.Chasing opportunities in areas where there are many competitors will not yield as good of a return on the investment potential.The best investments and return on investment I ever made was buying land that was mostly ignored by other investors.

I uncover most problems right there.

The second approach is “emerging growth opportunities†where value investors uncover external economic or market activities that are expected to lead to growing opportunities in the long term.