Landscaping:Here they have a nice sized deck that needs a good wash and stain.

You want to be in the real estate business for sure.Have your kids do the laundry, wash the cars, mow the lawns(where you maintain a home office) etc.

what was he supposed to do?  

Out of pocket: approximate 17kCoC return: 18.7%Cap Rate: 10.8%Also, CF may go down a bit if I decide to include repair cost into loan.According to some  websites I may be able to rent for 850.Also, The income is not including possible sources of income from say a coin operated  washing machine and dryer

New lending standards and a weak job market have made it difficult for someone in-between jobs, but solvent and with excellent credit, to own a home.I am considering purchasing a primary residence subject to the existing loan as a method of bypassing the banks and avoiding hard money lenders.It is my understanding that I can buy a property subject to the existing loan for as little as buying out the current owners equity, if any, and taking over the existing mortgage payments.

What else was he talking about.

I'm figuring that it's going to need new paint, flooring (maybe just cleaning), some repairs to drywall and door frames, interior doors, and perhaps power washing of the exterior. 

I have had the property for 2.5 years and the value has not gone up.Here are the details of the property:Purchase Price in Nov 2013: $131kCurrent Rent: $845/moI pay 8% for property managementZillow zestament: $131kTrulia estimate: $139kI make a little money every month (pretty much a wash) but I am mostly looking on advice if I should just try to cash out (hopefully 20k after realtor fees) and roll that into a better producing property.If this was your property, what would you do?

There are some areas that are really hot for flips (or more accurately, scrapes and rebuilds) like Wash Park, the Cheeseman area, Cap Hill, and the Highlands, and then there are a lot of areas surrounding them that are seeing a lot more activity as well.

We pressure washed, let dry for two days of full sun then painted two coats of tinted primer.