•Finally, can I use these flaws in Code, to negotiate price for a purchase on an opportunity?

If you decide to pursue it please drop an update as to what the situation is when and if you uncover it in the due diligence. 

Everyone deserves a safe place to live in, may be crappy finishes but they should have risk of being injured by structural flaws.

it astounds me that instead they blow what little seed capital they have thinking they are going to wholesale houses.granted some do OK but most dont as we know.. you decided to make it a true career.. not a get rich so i can buy rentals and not have to work any more.. thats flawed thinking at the outset. 

I have been using a rental analysis spreadsheet I put together for awhile and I'd love for anyone to pick it apart to find flaws or suggest improvements.

I originally planned for us to work on these properties ourselves primarily and act as GC to get them sale ready as an introduction into being able to BRRRR and/or flip future properties and cut costs on the rehab process (though I'm sure someone will question that logic, I'd like to hear where I'm flawed on it).

@JR Rivas the 100% vacancy argument against SFH is flawed. 

I know you have $40,500 but does that leave any room for errors/uncovered items/time delays?

My logic could be flawed here, so curious to hear opinions of others.Because FL is one of those cool states where RE tends to appreciate fast in the good times, it also can tank pretty hard in the down times. 

Is there a form letter people use to send out say here is the itemized damage charges and a bill for the uncovered amount?