@Denz el Bernard Thompson before you go off the deep end...Let's take it from the top. 

I would bet the management company put anyone that could breathe into these units. by them saying families don't pay tells you that they don't require their clients to pay rent. its that simple. 

They live and breath training, and have an unparalleled culture of agents sharing and modeling how they reach success. 

I didn't like school in the same way others didn't like their job, but the thought of earning a living in the way I just described actually took the desire and motivation to even live, deep down inside of me, to extinguish.

Before you get in too deep, get yourself a copy of the Homeowners Association covenants and make absolutely sure that there are no restrictions against renting the property.Good luck!

Then they could attach pictures, documents, or other supporting material to prove their case.I've had the idea for years but am also worried about tenants with deep pockets suing the web site constantly.

For all you newbees, if you want to succeed in real estate investing with deep understanding then do like Joe, simple as that.

I would be interested if other BPers know of other deep dive capex articles.

Unless you have either serious construction experience, and or deep pockets, I wouldn't take on that big of a rehab on your first deal.Basically take your estimate, double the price and double the time, and that is what it will take to complete.Also, will you have difficulty selling the property if it was flooded? 

I assume you're looking at buy and hold, so you have to think about what non-cosmetic things will be coming up down the road that will eat into your profit, or in the case of the current numbers, put you deep into the red.