Prepare accordingly and buy correctly so you can weather large repairs.I just had a client have to swallow an $8000 plumbing bill because the pipes under the foundation were cracked in multiple places.

Now the different trades are coming in to to review all the different areas (electrical, HVAC, plumbing etc.). 

Also, granite is more durable (tenant proof) than Formica. 3. make sure the "cosmetic rehab" is complete. if plumbing and lighting fixtures look old or out of date, replace them. this is a relatively small expense for a 290K house.

I called the city permit department just to check what was required for finishing the place out and the lady said that I must have a general contractor for the electrical/plumbing/hvac.Now I understand the need for this, not questioning it or complaining. 

It’s no different that having a renovation  budget of 20k for the kitchen then discover plumbing and foundation problems and that kitchen budget gets cut to 15k.  

They got permits for electrical, plumbing, and moving walls, but never got a deconversion permit.

I’m also going to trade school for plumbing and that wasn’t the only thing that I wanted to do so I was looking for other ways to have extra income and one day I bumped into Real Estate Wholesaling and I was very interested and I’ve been looking into Wholesaling for almost 3 months now.

How's the plumbing? 

Some of that is pad development (power poles, driveways, etc), but even purchasing them for $3500 a piece, once you move and set ($4k), add HVAC (it's always gone bad, $2k), new skirting ($1k installed), decks (anywhere from $500 - $1500), plumbing hookups, electric hookups, any rehab needed.... you see where that's going.

I ended up finishing everything and then ran into plumbing and electrical issues.