Demand is through the roof!! 

Owner wants 80k but it needs a lot of work including new roof, all new electrical, some structural repairs and an update to kitchen and two baths.  

Exterior was on great shape, roof looked ok as far as I could tell.

.): $1,500Paint (most rooms need paint): $1,000Roof Shingles: (may or may not need to do; roof missing a few shingles near gutter): $300Dryer Duct (missing a piece that connects from laundry room to outside, quick fix): $100Hot Water Heaters (electric) x 2: $2,000 (which is probably way high, but trying to be conservative).TOTAL ESTIMATED REHAB BUDGET (which is probably sky-high): $9,400ESTIMATED CLOSING COSTS: $5,000 all-inPROJECTED CASH-ON-CASH RETURNS: 14.91%=====================SECTION 8 PROGRAMI really need to educate myself on the Section 8 program. 

Roof leaks, mold, bad plumbing, wood rot, termites, pests, and so many other potential issues.

My excitement is blown out the roof, lately ive been coming across deals left to right, trying to find my niche in creative financing..

Seller expressly warrants that property, improvements, building or structures, the appliances, roof, plumbing, heating and/or ventilation systems are in good and working order.

I understand an AC or a roof has a life span and they will eventually need to be replaced but lets assume after 15 years of holding the property, nothing broke or wore out.What are peoples experiences with this?

Our tenants notified us and we went by to take a look---they were concerned about the smoky smell inside their home (our rental property) and maybe that the roof might have been damaged.

when cash-flow is less of a concern.The monthly mortgage including taxes and insurance would be median $1450-$1600 depending on the sale price.I know the roof is in great shape.