You may do better than that for years, but eventually will have to paint the house, roof, heating system etc.I do find you get higher rents - it's easier to get $800 for 2 bedrooms each, vs $1600 for a 4 bedroom house. 

New windows, roof, adding central air new furnace. new paint, electrical, water heater etc etc. huge concrete patio and driveway What was the outcome?

Yes JJ I have the clear CO in the contract so definitely calling the seller and pushing it on him.I'll ask the reason to the city but I can already guess that this is environment related with oil leaks etc (at least they'd say so)

I noticed a small leak in the ceiling of my condo on January 26th.

The roof came apart and mold all over the house.

A $20,000 roof will take you 16 years to recover from.

He has rented it out for years and he just put new flooring, paint, roof, and siding on it so he decided to sell it to cash out on his forced appreciation and equity.

Everything from the electrical, plumbing, roof, interior and exterior was brand new.

I ALWAYS have separate pros inspect the roof, HVAC, structural (if something is seen that warrants it), sewer main (or, septic, including separate sewer scope for drainfield AND perk test), and water well (bacteria and pump flow, etc.), if not on public water. 

Hey All,I constructed a 34 unit apartment building which has a conventional flat torch down roof.