My gut feeling is it's going to cost around $4,000 to repair and has been there for ages.

Purchase price: $137,500 ($44,000 in to the property... loan at $101,000)Appraisal: $180,000   ARV: $195,000Est rehab cost: $7,500Scenario #1: 75% LTV cash out refi at 4.25%...

You would need an extremely high grossing property under market value on a something like a 5 year lease to profit, and you probably will not profit after startup costs until Year 2 or 3.Do not even think of trying it with 1/2 bedroom apartments or condos nor 2/3 bedroom homes. 

Those that preach no/low down payments are mostly just trying to appeal to the masses who want everything for nothing that will buy their courses.

@Arlinda RexhoWhen considering a 32-64 unit multifamily property in Texas, focus on strong locations with population growth, proximity to amenities, and low crime rates.

Again, it depends on the borrower's priorities (time / energy / fees / opportunity cost of finding new deals / etc)4.

House hacking is an excellent strategy, especially with the potential to use an FHA loan to secure a property with a low down payment. 

We have been doing this constantly in Boise as we are such a high appreication market, but still more cost effective than CA.

You aren't necessarily building that much equity (cost of building exceeds the value) but it is a third option that is a hybrid.Another factor is location.

Go ahead and file.In real life it costs you time to figure it out and money.