By the time you go through inspections and closing, odds are you'll be done with the first rehab and ready for the next one.

Some lenders do their own appraisals and inspections and others use outside inspectors and inspectors.

You should find out from your local building department if they will accept what is known as standard construction plans or if you will be required to have them produced by a licensed architect and licensed structural engineer.Usually if your city will approve your proposal the electrical and gas meters will be installed , after your inspections have been approved.

Of course, I haven't had inspection yet.  

I would say if the property passes inspection and their is positioned long time passive income I would go for it only if you had more cash reserves.

The highest and best use for real estate property can result in a hidden profit when you're aware of what to look for...Busting the Myth About Selling Rental Property Why real estate agents should get started selling rental income property immediately regardless what others say...How Investment Real Estate Software Does Benefit Seven proven ways brokers and investors benefit by using investment real estate software to service income properties...How Investors Can Curb Rental Property Maintenance and Repair Costs Learn five ways real estate investors can avoid disappointing cash flow and rates of return on rental properties...How the USA and Canada Calculate Mortgage Payment How the compound interest convention used in the USA differs from Canada and in turn affects their monthly principal and interest mortgage payment result...How to Formulate Rental Property Cash Flow A step through the necessary financial data and formulations required to determine rental property cash flow...How to Raise Tenant Rents and Minimize the Fallout Practical suggestions landlords can utilize that will help them raise tenant rents and not cause them to move...How to Select a Professional to Manage Your Rental Property What to look for in a property management company once you decide to turn your rental property over to a professional...How to Market Rental Property to Achieve a Sale Suggestions proven to help you increase your chances on selling your rental income property listing...Overcoming the Fear of Real Estate Investing A remedy for potential investors struggling with the common fears that keep them from real estate investing.Property Management Tips for Real Estate Investors 8 Property management basics every real estate investor should be aware of when managing his or her own rental income property...Rental Property Inspections That Should Follow a Sale The inspections you must address as a real estate agent or investor the next time you sell rental property...The Financial Benefits of Real Estate Investing Four proven ways real estate investors can make money by investing in rental income property...Top 21 Real Estate Investing Terms and Formulas The exhaustive list of real estate investing terms and formulas every one engaged with investment property wants to know...Want to Start Selling Investment Real Estate Property?

Price is still being negotiated a bit and we'll see what happens when we get to inspections (it's an OLD house), but this deal is just too good to pass up.

My inspector went to do the inspection today but the house was never dewinterize and when he went to turn the water on it started gushing out from the wall between the utility room and kitchen.

No HMB etc will touch it though, even though I have it 'under contract', because of the internal access / right of inspection problem.The 'home runs' above?

Do I still have to do the traditional inspections that home owner's go through when buying properties at this price point?