Good vs Bad areas: This is a mixed bag of issues.

They purchased the house just because it appears stylish and cozy but did not pay attention to dust coming from an agricultural land nearby.

Hi JulieWe start showing as soon as the tenant gives notice.It has been a challenge sometimes, I remember setting up showings at a house where the tenant was away for the weekend.Just her teenage kids were home.The first showing was embarrassing, but I managed to do a garbage bag / throw stuff in the cupboards (including dirty dishes)The next tenants took the place, but I made a deal with them to have our painter / handyman come in to do a bit of painting, after they moved in.It is not always ideal, some of the hustle between tenants, but I find if you communicate well, set expectations and do what you say you are going to do, you can avoid any loss in revenue.That being said, sometimes you have to shut a unit down between tenants to do a full on scrub down.To clean properly it really takes a lot of time.Mike

That decade is long gone, and so is sitting on ones duff expecting others to do everything and just drop bags of gold on ones lap. 

If we can't get the property for 6 months, we just want to bag the whole thing.The concern about the property is that half of the aluminum siding has been stripped.

But as someone who started out with negative 80k in net worth and now has an excess of 4mil its NOT easy and there is NOTHING glamorous about cleaning / fixing toilet's, paying bills for repair costs because a tenant destroyed a property, or dealing with a bad tenant or HOA, going to work for 8-10 hours at your day job and then going back to work again for another 6-10 hours on your RE, giving up vacation, fancy cars or clothes or dinner, Being covered in paint and drywall dust after working 16-20 hours knowing your just going to do the same thing tomorrow and next day and the day after that.

He's great at dad-joke competitions, ping pong, and bean bags (or corn hole as some may call it).

10.How much in each bag?

I don't line item mine out before hand (although I do check taxes beforehand in some areas), if my margins are right it all works out, but generally I'm at 15% in costs on any given rehab so if I buy at what BP preaches (70% less repairs) my profit is around 15% of the ARV when the dust settles.

If the answer is not a resounding yes I take a minute and re-evaluate what I am doing.Once you have for some people 7 figure wealth and others 8 figure wealth you let off the gas and start enjoying more fruits of your labor as you get older and time becomes more and more precious. ( Dust in the wind ) song is very real (not another minute will your dollars buy).