That seems like an awfully low asking price for a property that needs no repairs.

Only the exterior walls and half the roof will be untouched (other half of the roof was already repaired immediately after the loss).

When the appriser go in the property ----make a note ---you have to repair that before lender will lend.

@Kevin Wattenbarger another thing you could consider is asking for higher rent payments and possibly add an amendment to the lease that he will pay for repairs (except for structural, plumbing, AC)

with fix and flip you let buyer do home inspection.. and call what repairs they want.although you do need to do a sellers disclosure so technically if you think its a major item it should be disclosed.. but if its in a hot enough area of PDX then you can sell as is.. but make your disclosure so you don't have trouble after the fact.Portland right now is a very tough market to flip in.. wholesale prices are so competitive one little bump in the road and your profit gets eaten up.. good luck

You can buy a rehab that needs alot of work and for a low price and finance the repairs in the 203k rehab.

You need to plan for vacancies and figure out who would cover repairs.

His numbers I was basically able to take utilities as he was in constant remodel mode I decided to use estimates for repairs/capex.So I did a quick walked thru the property on a Thursday.

I need a roofer in the Raleigh area for repair. 

Probably not likely unless you have a lot of cash in that checking account.From experience with my business (not real estate) no lender will entertain a line of credit without substantial cash reserves or very strong history to show.Probably better off trying to open a bunch of credit cards at the same time and use those for the repairs.