Rehab took about 16 weeks.Once completed, I self manage, so probably about 10 hours of marketing and showing before I signed lease, over a few weeks.Tenant moved in, and I self manage, so another 3-4 of initial fixes that I did myself (bought out of foreclosure, so small items that didn't work and weren't part of renovation scope, i.e. basement construction light replacement, fixing a small dishwasher leak).Refi process: about 4-6 hours, 12 months later.  

Every joint is a potential leak point.  

The first place bidder backed out after they discovered a gas leak on inspection.

The first place bidder backed out after they discovered a gas leak on inspection.

One of the bathrooms has been leaking into the unit below causing damage to their ceiling.

I use the VA on it so I paid for a inspector and also the VA people also came to check it out and sadly they missed this spot (among other things ). please see attachments and see if you guys know where the leak is coming from and let me know if its a easy fix. thank you!

Currently I'm renting the same building for $505.06 due to the roof is leaking, it is currently involved in a lawsuit with the roofer as he did such a bad job that it caused me to take a $700 decrease in rent for now.I have a deal that has presented itself to me that I can obtain a 3br 2 ba, 2 story house with a tenant that has been in it for 4 years, rent is paying $750 a month and a purchase price of $75,000.00.My question is should I look at getting financing to get the commercial building roof fixed so that rent can come back up to $1,200.00 or try to get financing for the residential house with that tenant.My initial thought is to get financing to purchase the residential house and wait for the lawsuit to clear before fixing that up.

I live 8 to 9 hours away and drove to see the property but when I got there the tenant's brother said he wasn't expecting me so I resorted to an outside walk-through and drove back home because I didn't want to violate the tenant's privacy...the tenant's brother lied to my face.Fast forward to 1 month after the purchase, the newly hired property manager asks the tenant to make a list of any items that are of concern and the list is unbelievable: ceiling falling, no heat, mildew and mold in closet, bathroom with a major leak, mold all furniture in living room, no proper ventilation in house and no air in summer.  

They did mention that it was a small leak and minor repairs needed so they were not in a rush.

Perfect.WELL, One cold Sunday night (why wouldn’t it be LOL) I went down into my basement and found both (2) of my oil tanks slowly leaking from the bottom from rotting from the inside out over the decades.