The purchase price stands at $229,000 with an estimated rehabilitation cost of $50,000.

Tell them you'll reimburse them the cost of the test if it comes back positive.

No additional costs in projections. 

How much will it cost to renovate?

Cost me 200 K is taxes because I could not complete the 1031 exchange.they talk a good talk BUT DOT NOT DELIVER.

It costs so much to sell a property and buy another one, and is such a hassle, that if I were in this situation I'd strongly consider just paying the special assessment and keeping a property that's otherwise great.

If you skip using a new loan, you avoid the costs of origination and high interest rates, It works well for our clients in Phoenix and in CA. 

In reality, "cash flow" areas to me are high turn over, higher turnover cost, and higher Capex, which all equates to the more risk for less return.  

Also a seller concession is a good tool to reduce closing costs and carrying more than necessary on the primary. 

It's the labor details that cost you, NOT the materials.