He just hosted a get-together - a Family Reunion - where we took a deep dive into various aspects of BRRRR, how to source deals and a look at how he is rehabbing the hotel we were at that he owns.

Get a list of recent inspections and permits to make sure the new roof and such were done right.Check with police if any reports for the property.What's included in the seller's expenses?

Structural- roof, newer building no EPA?

things missing in your list (everyone manages differently, so take it with a grain of salt)Vacancy rateTurn overbad debt legal fees (evictions as needed)accounting fees for professional tax prepmaintenanceProperty TaxesSales Tax on PM fees (In NM, this is charged, not sure about where you are)Reserves for replacement CAPEX - furnace, water heaters, ac, roof, parking lot, etc.Admin, software, advertising, etc.Cost segregation study for accelerated depreciation captureAs for your loan. 

Roof is 30 yrs old but structural and foundation is in good conditions and everything else is intact.

I'm originally from Western PA as well (Slippery Rock) and now reside in Atlanta.Here is how I am looking at it along with the assumptions I am making:1) I think the growth prospects are better in the Atlanta market than Pittsburgh from a pure demographics standpoint.2) I estimate your return on equity at 7.2% currently3) Over the long haul appreciation is going to take you further when it comes to net worth than cashflow will4) Doubling of the roofs is doubling the expensesThings to consider:1) What is the year built of your Atlanta property vs. what you could replace it with in PGH?

As noted, it keeps capital available to replace the HVAC, when it goes out in your first month of ownership, or the roof starts leaking and you are chasing an unknown source to the tune of thousands of dollars.  

I am looking for any type of avenue that would give me first hand experience in any aspect of real estate investing, managing, etc. 

Hi @Philip Jones,For the refinance aspect, the main factors will be the FICO Score, cash flow of the property, and as-is value.A Higher FICO will let you get a larger loan size and lower interest rate.Good Cash Flow will ensure that your property will be profitable for you and enable you to get the max loan size that your FICO allows for.The As-is Value will play an important role in making sure that you meet the minimum requirement for a DSCR loan of 100k, but also in making sure that the rehab work that has been done provided significant value add.

The issues being  1) inconsistencies in roof (dont know what this means)  2) a hole in the drywall behind stove in kitchen because of which there are spiders coming out of the wall and they had to kill two of them.At this time, I am concerned that they will trash the house while leaving it.