Hi Jay,Thank you for that break down, it gives me a better understanding of narrowing down my option to which state to invest in first.Miguel Suarez

You have all of the different things you could do included in it and you can modify it to meet your specific needs.

I looked at few houses in Bell Air community but I found it difficult to even break even with mortgage.

Yes, you need the sewer inspection and you don't need the home warranty (it would never cover a sewer break).

I’m being advised to put 20% down and afterwards I’d basically be breaking even with all the units tenanted. 

Also, be sure to have the landlord and property management resources you will need to manage the property properly, including having an attorney on-call for guidance and counsel, forms, lease agreement, and education. 

Seems like a lot of investors (including me) can be in these situations from time to time!

This would include any attempt to foreclose on the property. 

However the repairs he is asking for include hiring a structural engineer because he believes the foundation is crumbling. 

Looking at all the options on Zillow Rentals it seems like there's a lot of places falling apart and landlords want their tenants to pay for everything (no washer/dryer included, lawn care not included, first $100 of any maintenance requests, etc).