Some major capital expenditures were recently done and seems to be in a good area.

@Theresa HarrisI've asked multiple time since last year to join so that I can help with deferred maintenance and capital expenditures management, basically what happened to me doesn't happen to other.

The expectation would be that I can at least do 4 flips a year (average $30K) to cover our living expenses and let the rental income build up the cash reserves month-over-month for vacancy, repairs, capital expenditures, etc.; however it would be a safety net from month to month, if needed.Request: I want to know any and all of the possible financial or other real estate investing issues that I might come up against that I need to be prepared for that could put me in a precarious financial situation.So please, unload any and all possible events that would make this scenario something that would put my financial situation at risk.Thanks for your time!

If you guys are looking to rent it out then you would need to run a pro forma factoring in all of the operational expenses associated with the property against the rental income ( amortization, economic vacancy factor, insurance, property tax, reserves for capital expenditures and repairs, etc.) and see if it is actually a profitable cash flowing investment.

@Juan Carlos Castillo  What about budgeting for vacancy, repairs, and capital expenditures? 

I am usually using 4-7% on cap expenditures and repairs and maintenance, each.

Run the numbers this way and make sure to include property tax, capital expenditures and repair estimates at 10%, vacancy factor at 5%, property insurance, etc.

But definitely getting some prices on I'd think and then figure out how long it would take to make back the expenditure in increased rent.

Now I don't take into account eviction costs and do 9% each for Property Management, Maintenance, Capital Expenditures, and Vacancies. 

I'm an HVAC contractor so I can handle all Cap expenditures for minimal cost, including roof, remodels, etc.