I also recommend you read the book over a couple of times up until testing day as most of the stuff you learn is dry and is easily forgot by the time you move onto the next sentence :D :D

It's just your typical rotten wood damage...commonly referred to as dry rot.

-Property needs crawlspace dry in, minor roof att, new furnace, new appliances, kitchen flooring and possibly 5 windows replaced. 

So I have been talking to fellow investors in Minnesota and the once hot rehab market has dried up!

I think we are splitting hairs here.. 

Keep in mind the cost to rent ratios we have now are WAY better than they used to be.There was a period there where it was REALLY hard to sell a house, I had one listed $200k under a $800k appraisal and only had 1 showing in a year...so my rehab business that was feeding my rental business dried up and it got kinda hard to cover the $30k+ negative cash flow each month...Anyhoo, long story short is you gotta watch your cash flow and keep adequate reserves.

What this investor told me next blew my mind he told me this guy blew through $1.5 million of his money over the years and now has left him high and dry!

Warm, dry climates?

If local governments stop taking their land for buffer strips, limiting how much fertilizer they can use, stop threatening to sick the EPA on them for air quality violations during dry weather, and raising their property, sales,  and fuel taxes. 

The smoker only smoked in the living room by the looks of it, but are you saying we basically have to re dry wall and insulate or the odor will just come back?