There is a reason Wall Street investors buy single-family homes. 3 single family homes in the same area is essentially the same as a tri-plex. 

I ordered a 3rd party inspection and a list of items came back that needs to be (leaking pipe under sink, rodent infestation in the attic, downspout that needs securing, sewer vent pipe out to the attic, missing smoke detectors in a unit, loose material from basement wall which can compromise foundation if not fixed, etc...).

Quote from @Jaron Walling: @Michael Gonda You guys really hustled.

. - there is more to the cost segregation question than on the surface. 

Run your underwriting conservatively i.e. tight comps, awareness of school districts, busy surface streets, HV powe lines etc that invalidate your comps.

Keep in mind the foundation is not the only issue, when there is foundation issues there is usually other internal issues that go along with it, (wall separation, Possible broken pipes, floors etc) so give yourself plenty of wiggle room for repairs.

Under the "moisture and/or water" section the sellers stated "water in basement during heavy rainstorm of june 2023. repair completed, sealed wall, added downspouts" with no mention what-so-ever about moisture....nor other walls that were painted over to hide water damage. 

Makes your property more accessible (at least on the surface).Bad: Has a cost which is not used most of the time.

Biggest question on my mind is when all those funds that were paying over par for loans a few years ago, going to rise to the surface in insolvency. 

It's rough in the way that they have let their kids draw all over the walls and the kitchen counters are from the 80's.