If you buy a property for $7K does the cost of repairs it needs make it worth doing, meaning: can a neighborhood where properties go for $7K also have comps to support the value for a finished house that's priced at an amount that makes you any profit?

I am repairing the customers ceiling but at the last minute he wanted to fix the roof before the ceiling. 

Knowing your renovation and after repair value is critical to landing these deals. 

He informed you that you would be charged for the hole patching on the wall, which you didn't dispute or offer to repair yourself.

Repairs and expenses are deductible, but you only get back the taxes you would have paid, so you are spending a dollar to get back a quarter.

Once things begin to break or the buyer finds out about costly repairs they will be angry with you and wonder why you did not make them aware of it.

I was able to repair my credit enough to qualify for a new VA home loan.

Jason, it is an alcove studio in Battery Park City (so a doorman building) and while there have been minor repairs (replacing broken appliances, spot repairs to the parquet floors), as far as I can tell the floor, bath and kitchen are all 80s originals beyond those small updates.  

How does it say that repairs will be handled? 

Bringing the monthly payment down to ~$1650-$1700No plan to currently sell for at least the next 3-5 years, since my brother and father will be residing here.Property 3:Single Family Home (Snellville, GA 30078)Given to me by my father after my mother passed (Legally have not taken possession)Anticipated Rent $1500-$1700/MonthPurchased June 1995 for $100KCurrent Equity 100%Current Comps $150,000 to $180,000Anticipated Repairs $20,000 (Should be repaired by end of April)HOA $0My Questions:I know there is a capital gains exemption (250K or less if you're single, which I currently would be classified as) if you live in a property for two years.