I am looking at a cash only deal to fix & flip.The house is listed for $325,000 (4 bed 2 bath 1500 sq ft)  The neighborhood I believe could support a case for $550-600 all fixed up.The house right next to it sold for $490 (3 bed 2 bath 1300 sq ft) In a document I received from the realtor it discloses there was water damage to the kitchen area. 

Looking at a duplex where the current owner pays utilities simply because there is no si meter for water or electric.If I were to try and sub meter it, how much would that cost?

Water getting under the foundation is the primary root cause in most foundation issues.

When I see new investors with healthy budgets ask these questions in an open forum I always envision a bunch of sharks circling him in the water.

She is clearly testing the waters.

Water heater new, HVAC recently updated.Fast forward ten years, and I am now living in TX and with plans to have my mom move in with us here.

A full wash cycle caused 90% of the water.

We both have separate mortgages, good credit and less than 40% with the DTI score.This home is only a few miles from her primary residence so we're not sure how we could justify the "second home loan" besides the fact that it's actually on the water.

We’ve only checked condensate lines thus far because of some water accumulation in the ceiling.

There is obvious water damage on the ceiling and near the shower and the bathroom the floor below.