Getting engaged in forum discussions as opposed to just browsing makes a big difference in how quickly you learn things (at least for me!).

If no structural repairs or major exterior (roof, siding, etc.), then it is just surface repairs and that is better.

Once I moved back home, I took a job for a big mortgage company and got to see how things worked on the opposing side.

I think that it would be a good idea to invest in buy n hold properties there as oppose to Miami where the market is volatile.

@Vincent N ,Just be careful you must be sure that you can document your intent is to hold for investment as opposed to Flip.

Similarly if the exterior is brick on your subject property, don't select wooden frame houses either. 8.

The interiors are in pretty good shape, but the exterior is extremely neglected.

Final note on goals: I am not opposed to doing some flips in order to gain funds.

If the problem is a major one (typically if it was, you would see a lot of evidence not just in drywall cracks but floor and exterior cracks), you may want to move on as the time and costs to repair may be over your head.

If the closet is on an exterior wall then it has two strikes against it and will very likely grow the light grey/light green stuff you're seeing on doors, clothes, and especially leather shoes or boots.I wouldn't discount that there "might" be a leak somewhere.