We can also shape that reverse exchange to accommodate a value add component to the new property using 1031 proceeds which is a huge bonus.And during that 180 day period your are generating the income from both the new property and the old properties that haven't sold.It's not the easiest transition. 

Additionally, there are some major property components which aren't visible from a walk-through of the property, like plumbing and electrical, and assuming they need work is safer than assuming they don't.  

Didn't discover bigger pockets/the concept of house hacking until I was in my lease.

Didn't discover bigger pockets/the concept of house hacking until I was in my lease.

Interest rates on credit cards have not come down for most consumers, while cash advances rates are well into the 20s and graduates discover it's hard to find work.

I have only just discovered BP and know I have a WEALTH of great things to learn.My story: I'm a business professional who will soon be unemployed.

I asked the owner if he had any docs from the inspection when this was discovered.

I have received some very attractive offers from companies like Discover who offered me (not my business) $25,000 at 0% APR for 12 months.

IRA Pub 527 will tell you that there are three basic class life categories for your rental property. 27.5 year property is anything that is an integral component of the dwelling structure - such as roof, windows, HVAC, water heater, etc. 15 year property covers most of your landscaping items, such as new sod, sidewalks, trees, etc. 5 year property covers all the furniture and furnishings that you provide for your tenant's use (kitchen and laundry appliances, area rugs, furniture, window air conditioner, etc.

You can always make your offer contingent upon any inspections, and then re-negotiate if something major is discovered.