Hi all,We just backed out of purchasing our first investment property as it needed a new roof (per the property inspector and 3 roofers) and he refused to submit an insurance claim (saying the roof has 10 more years...). 

It is not that much cheaper to replace the roof, floors, hvac, etc.

The roof was replaced in 2012.

Unlimited 24/7 Tenant Communication4 Home Wellness Checks per year4 HVAC Filter Changes per year4 Smoke Detector Tests per year4 Exterior Property Inspections per year1 Roof Inspection per year1 HVAC Tune-up per year2 Professional Common Area Cleaning100% Free ACH DepositsEvery ACH bank transfer in or out of your account is 100% free.

Purchase price: $18,000 Cash invested: $18,000July 2014....cute 3 bd 1 ba with w/d hookups, bad roof, newer furnace, solid bonesRents for 7152/yr or 596/mo

So the inspection just came back showing the following issues: - Mold in a few interior rooms- Evidence of rodents- Original roof requires repair, replacement and/or evaluation - there are active leaks in the attic - 7 out of 8 water heaters need replacing at any moment ($5600 total estimated)- 5 out of 8 A/C units need replacing at any moment ($25K total estimated)- A bunch of minor things need to be fixed, i.e.

Hi @Mendy Blasberg, I would also recommend verifying any income assumptions made by the seller against bank statements and also ensure that you get an inspector that can cover all of the high ticket capex items e.g. boiler, roof, foundation etc.

Hello,I am currently looking at two SFR as my first purchases in a seller-financing deal.I don't have that much $ as the private lender I was working with backed out.Approximate value of the properties: 100,000-120,0002 bed 1 baths. 1,080 sqftage of roofs Unknownexpenses: 575 - $702 583 - $793Taxes: 575 - $1,938.85 583 - $1,463.98Insurance: 575 - $302 583 - $240Lease Expiration 575 - June 30, 2020 and 583 - October 31, 2020Rent: 575 - $950 583 - $880Appraisals: unknownHow do I structure this?

Kitchen update, new roof, adding bedroom Lessons learned?

I went in and replaced the roof and windows while also doing a gut cosmetic rehab on one of the units.