It started with the "heartbreaking" single family houses, full of run down yards, overgrown trees, ceramic sewer pipes, leaking galvanized water pipes and Cochroaches throughout.

A couple of days after that, he called me and said he was ready to sell but countered me at $310,000.

An upgraded Quartz or composite counter is around $200-$250 + install.

Recently my tenant received a very huge water bill due to a busted pipe under the slab. 

Example belowwe found a house for 900 a month rent Asking price was 59900. taxes 1400, insurance 800, renovation budget 25k mostly cosmetic and minor fixeswe went into it expecting a 15% return on our cash out  that gave us a expected cash out loan around 75k to get our 1.4 dscr   When we plugged our numbers  we could go over 47k on our offer to make the deal work  we offered 43 and got counter 47,5  we took the deal assume a slightly lower 1.38 dscrthe key is to scale and be selective on tenants AND not allowing pets (you can offer them but suggest crazy fees to cover yourself)  500 pet fee, 25 a month per pet etc.  

Finding maintenance issues prior to them becoming a larger problem (water leaks, pipes, roof etc.).

They did snake the pipe and baby wipes came out. 

As a reminder, please submit a waiver request so you aren’t penalized for things out of your control, like when a pipe bursts, the power goes out, or someone can’t agree to your house rules.

Just a side note- Be cautious of all the “gurus” out there who will try to sell you pipe dreams on getting into REI with zero cash.  

Run off from your neighbor's lot, rainwater, an underground stream that is becoming too full and rising up, a broken water pipe under the ground That is feeding your house or your neighbor's house.