@Warren AngNew builds have 10yr structural & mechanical warranty & one year comprehensive warranty depending on the build model you choose. 

MEP (mechanical,electrical,plumbing) maybe throw in value add like low voltage i.o.t. etc.

I'm interested in the mechanics of this. with a 2.1M purchase for 2.39M in property market value there is 290K in potential profit (I assume), which on one hand seems great, but after paying everyone pref return and any overhead and fees etc it starts getting thin.

I understand the general concept of it don't really understand the mechanics of how it works.

Want to stay away from Welding, Mechanics, etc requiring a lot of outside storage or parking.  

I apologize for the long post, though I’m looking to be as clear as possible for you guys.A little bit about me: I’m from West Michigan, and I’m currently living in Salt Lake City pursuing an undergraduate degree in mechanical engineering at the U of U.

Maintenance on old mechanical equipment can be costly, are your units updated or not?

You may also incur higher title costs and have to clear mechanics liens which can cause delays. $15000 is the least expensive points/title/appraisal cost for hard money of that size but you may also have bonds, new impounds, and the risks that your FICO is lower from use and inquiries bumping the rate higher.

My situation currently is I am a 21-year-old senior in mechanical engineering and will be graduating in May.

I bought the house thinking it was a lipstick rehab, some paint, new flooring and cabinets. 12 months later, I’m in for a new tear off roof, full gut, including all mechanicals and exterior paint.