Hi All, Thanks in Advance--My investor marketing/mailing turned up a homeowner who was ready to bail and just abandon his house. Unfortunately, he owed way to much to take it on as a flip--and not interested in it as ...

Lenders I've worked with don't look at the expense items in detail because of this-they are more concerned with the rent amount/lease in place.

Just haven't made much money on this one yet.So to sum it up, I budgeted $325 a month to replace the items that I needed to over the first 5 years..

Hi @Jeff Davis, what books have you read because they should have covered those items, even at a 10k ft level?

FHA inspections typically result in "nippler" negotiations where every little item that needs addressed nibbles away at the net proceeds of the sale.

I've replaced these items from supplyhouse.com, & honestly you're probably better off replacing these items from the get-go & it'll be (relatively) problem free.... especially if you run them a 2-line thermostat to make things easy for the tenants.

I've been able to secure contacts that will assist in future investments (inspector, contractor, substantial discounting for rehab necessary items).Is my thinking above logical (given cousin is agreeable)?

I do not have any rental properties yet but anytime I've checked into deducting these two items for our primary residence, I was always told you can't do that.  

The other items are visual only inspections and no additional inspections are done to find the source of the issueHUD will do no repairs nor provide any price reductions. 

It sounds like you have some tenants that will obey the request; however, just stay firm to the dates and items discussed.