I have seen loan documents that were written so that the investor had no possible way to ever access insurance funds - but they still had to pay to repair the property.Here is how to tell if you are at risk you may not have been aware of.1.

Most homes in an area are consistent with age, design, quality.

Also in the price range you are considering you are running a high risk of having a low quality experience.

Properties passing the initial screening I will analyze using the Four Square Method as Brandon decsribes here:https://www.biggerpockets.com/renewsblog/easily-an...I also determine the Fair Market Value (FMV)/After Repair Value (ARV) for the property with the help of my Realtor.  

Off the cuff, my guess is the spa/jacuzzi is worth it, the pool may or may not be, would be need more info on the location and finish quality to speculate.

We currently collect the rent and maintain the property now including all repair and upkeep.

Sometimes it's the town/city, sometimes the county.Once you figure out who actually controls road repair, then you can figure out who you have to makes calls to.

Will call roofer next week for quote on repair.

Now deduct 10% for management fees (even if you manage yourself) and 10% for repairs and improvements each year (since you are rehabbing up front this may be more than you need but better to be safe).

Its convenient for me because it eliminates the need for me to maintain the property, the tenant/buyer would have to take care of all repairs, and I have no debt.I can't owner finance an apartment complex, so theres a chance my phone will still ring because something inside the unit broke, and I won't be able to purchase many complexes cash, so I will have debt.