: Roof (Shingles and wood replacement as there seems to be a leak)= 5000 Paint (entire home) =4000Hardwood (first floor)=2500Carpet (stairs/second floor)=2500Windows=40002 sliding doors/8 standard doors=3000 Kitchen remodeling/appliances=3000 Powder room remodeling= 1000Main Bath room remodeling = 2000Junk removal and cleaning (owner may not remove his stuff given short sale) = 2000Potential mold remediation (roof leaked and perhaps mold exist) = 2000Ceiling repair in the family room (there was leak in the ceiling from first floor bathroom) = 1000Miscellaneous = 2000Monthly Rent = 1500-1600Monthly Expense = 1400 (PITI, HOA, property management, vacancy = 5%, repair = 5%, capex = 12.5%)Monthly cash flow= 100-200  I am wary of the following facts, so any comment on any of the following will be appreciated:The estimate on rehab cost may be completely off Why no investors put an offer on this for 3-4 months where finding 1% rule properties are really toughWhat would be a good offer price where I feel embarrassed on my offer as well as don't offend the agents/seller/lenderI am leaning for an offer of 120000 (or may be lower ?)

@Charlie MacPherson I'm sure somebody will find some state where you have to have $1 change hands but where I'm from contracts are just mutual promises and no EMD is required.The EMD is a remedy... forfeit upon default.

My remedies would be limited to the resources that the lessee already has, which in these cases is likely nothing.

If that is the situation, consulting a real estate lawyer could be worthwhile - they can advise on what remedies are possible.2.

Star environmental in indy has remediated a couple of things for me.

The property had already been walked by a GC and I had been supplied with a breakdown of what needed to be instantly remedied, as well as what was to be expected down the road.

To get one, you typically have a testing outfit come to the house and test for the presence of mold; when they find it, you have a licensed mold remediator come out and write a scope of work (this is an official - and expensive - document); then they come out and do the actual remediation work; then they test again and either issue the certificate or repeat the remediation process.

neighbor tipped me off the day after closing that the house had had mold problems.got it inspected by a couple remediation companys, they found the problem.had it gutted, was having it rebuilt until the contractor took off with an overly large deposit (newbie mistake).still dealing with it, and everything else is on hold in the interim.believe me, i have learned my lessons on this one. double hit, same house.

No one can predict how much it will cost to remediate the soil. 5- Have the oil tank removed.

Any asbestos to remediate during construction?