I am interested in buying flooded homes during Harvey but my agents keep on sending me homes that are flooded and it seems like after repair I am paying 90% of the ARV.

So far I have 1099, Advertising & Marketing, bank charges & Fees, Capital Expenses (for remodels) Car & Truck, Contractor, depreciation, donations, Employee benefits, insurance, interest paid, inventory assets, job supplies, legal &professional services, loans/points, meals & entertainment, office expenses, Rent & lease, repairs & maintenance, salaries & wages, taxes & licenses travel, utilities.

You need to set aside an amount to cover future major repair/replacement.  

Here is the code: "At the mutual inspection, a comprehensive listing of ascertainable physical damage, along with a repair cost estimate for each item, should be reduced to writing and signed by both parties.

He's aware of any repairs and update that need to be made. 

My first house will be done soon and it was minor repairs so did not have a problem finding anyone to do the work. 

.: avoid posting price, avoid posting pictures, ARV's, and repairs.

From the seller, definitely get history, insurance, tax info, any planned special assessments, major repairs, any warranties (foundation, waterproofing, roofing, etc), a copy of all leases to review as part of a formal accepted offer, etc. 

In the old tax system, my understanding was that home repair expenses could not be declared until the property is actually rented.

@Christopher PhillipsThe wholesaler sold this house 1.5 yrs ago, I saw the inspection report from then and as stated the wholesaler is a general contractor also and shared with me his inspection report of repairs made when current owner purchased, I feel comfortable that I've waived the inspection.The thought of a Lawyer has been thought of but would the lawyer need to be in the state of purchase or where I reside?