Plus, your expenses do not leave much room for debt financing. yes, I know you choose to pay all-cash, but you must have alternative strategies which would allow for debt financing in the event you needed it and if a building does not support that, you may want to look elsewhere.

The basement needs at least 3k for demo, clean up, paint which would add virtually nothing to the sell price.

Hey Ryan, the property is great shape, hardwoods covered by carpet, newer windows etc. the house is full of stuff from the previous owner so as long as there's no crazy unexpected issues, it needs a deep clean and paint.

(The sellers have even painted the inside)

Its a one bedroom condo and she is listing it for 70k one just sold for 92k but the recent comps are at 85K it needs paint and carpet and is vacant.

Electrical and paint is done, hopefully carpet next week and windows in July.

That alone is a book to address the issues and concerns.I'd suggest you find a property that fits your skill level, could just need paint, cleaning and a couple days of a handyman.

You discriminate every time you choose one tenant over another.

The home inspection came back with so many items needing repair that my son thought all home inspections were written in red ink (red means repair needed.)If buying as a owner, not investor, there is a lead paint provision that will help you rehab the lead paint for up to $4000 (they will rebate that costs to you) or let you out of the contract if the lead paint estimate is more that $4000 to remediate.

I'll talk to him on the phone about work updates, scheduling, and choosing finishes, but he'll be 100% there doing it while I'm 800 miles away.