Hey Jake.Start running so many deal analysis that you can look at a property and price and know instantly if its a good deal (dont be hasty this takes time).Your next lesson should be on Self Directed IRAs and your business structure.

If you eliminate a utility bill and replace it with a bill that is less than you were paying before without coming out of pocket to do that, that's pretty much instant ROI.

There are some things that can be tested without juice running through - but an electrician would have the right tools and be able at least get an idea of the diagnosis.If you're not able to test the electrical then you might want to plan for the worst-case scenario in your budget (the place burning down the instant you get the power on), and hope for only the 2nd worst case scenario (100% update of service and wiring).It could also be something incredibly simple to deal with - like a main breaker that is bad.

Buy the property for cash, turn around and instantly refinance the property knowing it will appraise for 20% more than your purchase price, the bank will stroke you a check for the entire amount you bought it as and you can pay back your lender. 

Instant profit--they made the money when they purchased it.

My plans were to buy it right with an all cash offer to save a monthly mortgage expense and have instant equity, then a year from now I would move out and obtain a loan or heloc for a second home that I would then live in and eventually rent as well.

With a license and an association with a broker, you are instantly in a conflict of interest IMO.

In a world were everything is instant gratification telling someone you engineer packages for pasta boxes doesn't get anyone excited.  

Buy it right and give yourself instant equity.

Instant $20,000 profit margin!