I am only targeting properties that I have more than enough to cover 20% down, closing, and very light rehab.

I view this as a light version of house hacking.I am moving to the Plymouth, NH market.

We were in a similar position in that we were cash-light but being able to take down a four-family for < $300,000 made everything workable. 

For anyone else reading this thread, I ended up contacting a home inspector I've worked with in the past and he has agreed to do a "light" home inspection for $100, so that works out perfect. 

It needs light rehab, but all new plumbing, kitchens and baths.

In light of the fact that in two weeks he is in violation of the lease I would be giving notice to evict.

Can anyone shed some light on this situation?  

In each of the last last two years the owner has spent $30,000 in repairs and maintenance which is significantly cutting into the profit margins but seems to signify that the property has a lot of differed maintenance issues that are finally coming into the light.  

6) Are things like ceiling fans, lights, etc being replaced usually included in a bid price?

I don't understand what they are doing so if you can shed some light on what they are doing that would help me. 2.