@Matt ShamusThanks for the support...We got the seller to replace roof and gutters as part of the deal, other than that just some light clean up in laundry areas. 

The description says that it needs some work, and may need to have the floor replaced. 

Then, an emergency fix, massive labor costs, leads to a huge special assessment, and you have to pay in all the cashflow you may have received over the prior few years.Windows, they love to replace them.Let's also not forget, the city is about to raise property taxes.

Few examples from the top of my head:Faucets -- I've seen people try to skimp on replacing a whole faucet by replacing a washer, which usually doesn't work, prolongs the problem and just creates more costs until they do replace the whole unit.Tile floors -- People try to do it without using a backer board, which eventually causes the tiles to pop. 

I am using private money to fund the deal and would repay once the refinance portion is in place.2 Bed/1 BathOffered: $21,000 all cash, no inspection contingencyClosing Costs: $1,500Taxes Current Year: $1,800Needed rehabs(Estimated): - Fix grade issue $300- Demo and remove patio $500- Demo and remove moldy drywall in basement $150- Repair basement cracks/seal/paint $500- Dehumidifier $300- Paint interior $300- Paint Exterior $200- Add/repair downspouts $500- Replace boiler $3,000- Replace siding on carport $400- MISC Electrical $350- MISC/Oversights $1,000TOTAL Rehabs: $7,500ALL IN TOTAL: $31,800Comparables in the area are around 45k-48k on average.

I can update the sub panel to 100-200 amp setup and replace the two pronged outlets with three pronged outlets with GFCI's.

Yes it was part of the contract, but she has no money to replace it.

Replace a couple interior doors.

This will cost about $400 to replace in addition to $350 ive already spent earlier this year to keep in going. 

If the cash is available then add the ac unit and replace the furnace as well.