And, no, it doesn't "negate the LLC shield" or expose you to having the "veil pierced" is the better legal term. 

Other than a few bricks crumbling near the exposed windows (most likely from exposure to rain and snow) the rest of the foundation and house is solid. 

Having your money all tied up in one deal exposes you to a lot of liability.

I prefer the ceiling to be exposed as it is.

Find an agent who is an investor. go to meetups in your area to get exposed more and network. picking up random properties on Zillow with out knowing all the expenses and repairs isn't the best way to utilize the calculator. you will need accurate numbers to see if you will cash flow. start your search for a property now as sometimes it can take time to find the right one depending the area. get pre approved and go house hunting with a link minded realtor. then you can plug in the numbers into a calculator and see if any will work. best of luck.

Keep in mind we do not have known cost amounts for these repair items, and can just make estimates, and hope no other costly issues are uncovered after attacking some of the repairs.My question is, with our next interaction with the selling agent, should we:A) Ask for the major repairs be metB) Ask for a decrease in agreed upon price (without great idea of what the repairs will cost)C) A combination of both; settle with some repairs met, and a decrease in priceOur entire list is below: (keep in mind that I am not sure if all of these things need direct attention to get the unit rent-able, or if some items can be overlooked for now and deal with later as they become more of a problem)Repair List:Items that need attention before renting unit:Big Ticket Items:Install furnaceInstall all new appliancesInstall water heaterExterior electric power supply is damaged, needs repairInstall guttersNo termite treatmentNo gas meter, install newAttic decking has moisture damage, needs repairSmaller Repair Items:Install electric panel faceplate and secure exposed wiresTwo prong outlets (could not test), swap out, install GFCI where neededTrim tree limbs in contact with power linesMissing light cover under front entranceRepair kitchen windowsRepair kitchen sink leakRepair utility room leakInsulate atticSeal gaps in living room doorLoose bathroom faucetAdjust shower water pressurePatchwork performed in multiple rooms, walls are plaster on wood lathe- which I have been told can have asbestos issues once opened upDeferred Cost Items:Large tree removalTorn and missing roof shinglesSeal plumbing boots on roofRaised soffit under car portSecure electrical lines in attic, they run over attic stringers, not through them (necessary?)

And then that money isn’t in stocks when the market corrects so you won’t be as exposed.

The open spliced/exposed wires in the hatchway area need repair.

Then I would make sure the house is-1. water tight - fix the roof2. all working parts are still working ( water heater, furnance, ect) and no exposed outlets or wires3. broken windows4. tight doors5. no flaking paint exterior or interior6. flooring - safe to walk on7. fix or remove rickety outbuildings8. pleasing to the eye from the outside ( well trimmed shrub & trees)This is what I learned on my first buy and it just cost me 3 returns of the appraiser to get it right.

A little of both - as a seller awhile back my broker didn't present the TDS form until later in sale (some things going on in Brokers personal life at time to excuse it - but I had no idea of the form or my responsibility there) exposing me to additional risk.